Comex silver futures a selling opportunity on more price weakness.
See on the daily bar chart for July silver futures that prices saw a steep drop in April and have since traded sideways in a pause. Prices remain in a seven-month-old downtrend on the daily bar chart and the bears remain in overall technical control. A move below solid chart support at $23.00 would produce a bearish downside “breakout” from the pause and it would also become a fresh selling opportunity. The downside price objective would be $20.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at $24.50.
