Precious metals are falling…
Both gold and silver prices peaked a couple weeks ago.
[ad#Google Adsense 336×280-IA]Since then, the metals have given back all their gains since the Federal Reserve announced a third round of quantitative easing.
But the decline may be just about over.
As you can see in the chart below, silver is trading just above its “200-day moving average” (DMA).
Technical analysts often use this line to distinguish between bull markets and bear markets.
If an asset is trading above the 200-DMA, it’s in a bull market. If an asset is trading below the 200-DMA, the bear is in charge.
If silver stays in a genuine bull market, the price should stay above its 200-DMA – or, at least, not fall much below it for long.
– Jeff Clark
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Source: Market Notes