Silver After The Crash: No Control, No Conviction

Nobody in control

Silver is printing a large doji as of writing, notably the same candle structure that marked the recent high. A doji signals short-term indecision, with neither buyers nor sellers in control. These formations are especially important after sharp moves, as they often flag exhaustion, in either direction. Note we bounced off the 50 day at overnight lows, although the 100 day MA is still way lower. In our view silver needs to consolidate before any new "serious" direction takes place.