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Since early 2016, Silver looks to be a narrowing pennant pattern, highlighted by a series of higher lows and lower highs. These patterns tend to frustrate both bulls and bears, as it range narrows and trends are non-existent.
Silver in the past three weeks has rallied off support, where it is now touching the underside of falling resistance at (1).
Since July of 2016, Silver has run out of steam when it hit this falling resistance line. Will it be different this time?
The best way to trade narrowing pennant patterns it to set back and watch, until a breakout or breakdown takes place.