Since silver has been the leader lately this more hysterical metal is better than gold for gauging the general precious metals correction from overbought readings.
Let’s keep it super simple. Silver is testing what I had thought to be the best target for this leg of the rally at the 18.70 area. That is very fledgling support. If it holds, great. We’re probably looking at a shakeout and a test of the 2016 high. If it fails it will have been a bull trap and support at around 17.30 and the SMA 50 at around 16.50 would come into play. Let’s not over complicate it.