Silver Weekly Situation

As seen from the weekly chart, 200EMA is an important technical setup. Moreover, both the trendline from 2011 and 200EMA are very close to each other indicating that silver has approach a key technical level. Worthnoty,S1 from of the weeky pivot is also in the proximity. All in all, a close above
both 200EMA and trendline would signal the 3 years old bear market might soon be over.

A close below the weekly pivot would bring us to a potential retest of December low or, even further, would target 14 levels.

Now, this is a no-trade situation in my opinion.