The trend is leaning towards bearish with pandemic fears reemerging and governments reimposing localized lockdowns and restrictions.
Keep eyes on the lower trendline drawn up from Mar. 2020 low on both charts, as that line is a likely bellwether for any near-term weakness.
Uncertainty is the key word driving sentiment and reflected in a stock market correction since mid-October.
A Deep Impact is Blunting Silver’s Upside Potential - Technical Analysis - The price of silver faded from its high in-step with base metals taking a hit on concerns over a pandemic-induced global economic slowdown.