Each bar is derived from one week of trading activity. Scroll down to the Monthly chart after this.
After week 47, weakness prevails on a weekly scale showing a lower low and a lower high.
After week 46, there is a higher low vs last week. Highnote is the very same. There could be seasonal weakness for a couple of weeks, but blue bars are stronger than red.
After week 45, a clear higher high and a higher low in the weekly time-scale, ending the week on a high note.
After week 44, Silver makes a lower low and a lower high on a weekly scale.
After week 43, there is now an inside weekly bar; the weekly high is lower than the previous week and the weekly low is higher than the previous low. So far, blue bars prevail.
After week 42, prices are moving higher on the weekly scale signalled by the clear higher high and its higher low.
After week 41, not convincing on a weekly basis as there is no clear blue body to the last candle. But it could be a start to something.
After week 40, the downtrend is very much intact, but the latest inside bar indicates consolidation and could (at best) signal trend reveral.
After week 39, weekly prices are showing lower lows and lower highs. USD 23.8 is to be challenged in order to see a change to the current downtrend.
After week 38, Silver still sees a lower low and a lower high in the weekly chart above. No sign of any turnaround until closer to, or above the USD 24.2 mark.
After week 37, prices are significantly weaker and lower, ( - 5.7% ) for the week. Bars are building lower lows and lower highs and made a yearly low-close on Friday.
After week 36, prices are continuing somewhat south. In order to gain traction markets needs to get above 24.80 quite quickly.
After week 35, Silver shows some signs of strength, but no indication of a clear uptrend in the weekly chart. There is a higher low and a higher high indicating higher prices to come.
After week 34, Silver is still heavy in the weekly chart, even though Gold managed to show a blue bar. USD 24.7 is the next juncture to surpass.
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