Precious metals are falling…
Both gold and silver prices peaked a couple weeks ago.
But the decline may be just about over.
As you can see in the chart below, silver is trading just above its “200-day moving average” (DMA).
Technical analysts often use this line to distinguish between bull markets and bear markets.
If an asset is trading above the 200-DMA, it’s in a bull market. If an asset is trading below the 200-DMA, the bear is in charge.
If silver stays in a genuine bull market, the price should stay above its 200-DMA – or, at least, not fall much below it for long.
– Jeff Clark
Source: Market Notes