Silver could completely lose its shine!
With low at 13.63 in December, silver reached the lowest level since September 2009. But, the bearish trend could continue and the sellers could try to reach the low from 2008. at 8.50/9.00!? On the way down before that, the only stronger support is waiting at 11.80, the low from the beginning of 2009. For now, the silver is holding on support from December last year and up trendline from 2003., but you can see the clear descending triangle in my monthly analysis and if this support level brakes, furder decline could be inevitable. Silver could get the color of rust with return of the levels before recesion and everthing is pointing that this could realy happen in 2016. On the other side, silver must brake this strong monthly down trend line for recovery, there is no other way. What’s your view traders?