Green lines- bearish channel
Yellow line -support broken
Silver price is making today new 2022 lows. Price has broken below the May low of $20.41 and confirms that price remains in a bearish trend. With lower lows and lower highs, bears remain in control of the trend. Silver remains weak but as the RSI suggests with a higher low, this downtrend is weakening. Of course this is not a reversal signal, but only a warning. Price is inside the bearish green channel and as long as this is the case, bears will remain in control of the trend.
