Silver has a barrier to break through before it goes any higher. I have drawn it on this simplified chart to make it obvious. I don’t know why it is exactly but once a trader becomes fixated on a trade they cannot seem to see the obvious any more and they will try to avoid news that does not fit their internal narrative. Even when presented with facts and charts they often cannot be snapped out of the stupor or spell that has hijacked their mind. Its why so much money is lost in stock markets. Traders just get consumed emotionally once they have skin in the game and they cannot seem to see trouble coming until its too late.

Let me wake you up if you are all zombie-eyed about silver and advise that my forecast is for silver to fall. Todays chart is confirming my prognosis. Unless and until price decisively breaks through the line shown I will continue to be a bear. That does not make me right. Not yet anyway. But at least I follow a system that is objective.