This week, silver has broken below the lower trendline defining what was a textbook ascending triangle, which is normally a pretty bearish circumstance in strict charting.

However, the banksters love to shake people out by driving price above or below trendlines and then immediately reverse price.

I would love to see silver close back above its lower trendline this week or next week and never look back.

That being said, I can totally understand why someone would be bearish here.  And the fact of the matter is, the picture will remain bearish until it isn’t, i.e.,  the bears are clearly in control at this moment.

With the FOMC meeting next week, I expect the banksters to milk this situation for every penny’s worth, whatever the ultimate outcome.