From a technical standpoint, both silver and the SLV ETF are both facing dual resistance inside falling channels. If weakness continues, this is a dangerous setup.
The chart reflects that Silver and Silver ETF (SLV) are both testing triple resistance, inside of a falling channel at (1) above.
We also shared that this resistance test was taking place at the same time that “Dumb Money Traders” has amassed the largest long position in Silver, in all of its history.
This is a dangerous setup for Silver, should weakness start taking place.
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