SILVER Daily Chart Overbot Rising Wedge Negative Divergence

Silver daily chart shows all three negative factors in place for a spank down; overbot conditions, rising wedge and negative divergence across all indicators. Friday price started to receive the initial smack. We will see if there is follow thru to start this week. With the negative divergence shown, price no longer cares if it makes another high again on a daily basis.

The weekly silver chart, however, shows an RSI that would like to see another matching high at some point so the forecast would be spank down now from this daily chart, then price comes back up again to current levels so the weekly chart can set up with negative divergence and then price will continue to roll over with a sideways to sideways down bias moving forward. The Middle East premium move from the green circle forward was the game changer for all this recent silver hype. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.