#Silver 4hour: Silver continues to obey gravity with conviction. It has the feel of a bear tumbling from a tree clutching wildly at branches and missing one after another. But how does it look on the chart?

Not much better! It got rejected again by its immediate downtrend line yesterday, along with the 50dayMA (not good).

The 100dayMA, which I have left off to keep the chart from being extremely messy, is just below. It might hold, but it doesn't look like it will atm. Even if it does and the immediate downtrend is broken, there is much damage to recover here. 

I generally am expecting a test of the rising purple support (end of daily cloud) here before a proper reversal after yesterday's action. 

Now, it could surprise and not quite test that line. If so, a recovery of horizontal 32.2 and the 4hour cloud would be a fairly strong signal of the reversal (avoiding a dead-cat bounce). But the trend is decisively down until then.

Retrospect: The red channel being lost during election day was not noise. I should have obeyed the exit signal then, but alas, was in denial at the time. What's the point of charting if I don't obey the chart? A fair question. There's probably a lesson about being a bit too married to the asset, I suppose. Lessons learned hard, friends.

Now, this is not to say the bull market is finished. It just appears the bottom might not quite be in yet. 

Anyway, errands to run. Fish to catch. Garbage to raid. I'll post a bigger picture silver chart and on the miner damage later.
#Silver