silver

Looking at Silver, the chart is significantly weaker as it has breached the 32-day moving average and the 61.8% Fibonacci Retracement level as well. The MACD is also showing a bearish divergence. It would be critical for Silver to hold the support at about $16 (65-day moving average) for it to be considered a healthy correction, or else too much momentum will be lost. This level has to be tested sufficiently, and for now we reserve judgment on Silver. But clearly, Gold is the precious metal of choice of the two based on its shallower correction. www.MarketTimingSignals.com