Silver analysis

As the santa claus rally takes the major indexes toward record highs as well as low Vix, gold and silver are in an expected retreat. The Dragon has formed a perfect Dragon's eye formation into neutral territory. Look for consolidation around the pitchfork median lines (red and green dotted lines until a new trend is formed. Downside risk should be placed at $15 (support) and upside target at $20 (resistance). There will be plenty of opportunities to trade the precious metals in the coming year, no doubt. Happy holidays and good trading.