Shared yesterday morning that Fibonacci looked to be blocking SLV/GLD from moving higher. (see post here) 

SLV is acting a little doggy since the April highs, as it is down almost 40% in value.  Relative strength ratio suggested to get out of Silver in May (see post here).  It appears that SLV is forming another flag/pennant pattern of late.  Shared last week that ZSL looked to be a good play and so far this pattern doesn’t change it, yet while the flag continues to form, extra back and forth action should take place for a while.

Keep an eye on the CRX Index and Copper, weakness there increases the odds of Silver being soft!  See updated CRX/GE2 post on Dshort(See post here)

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past