Precious Metals Complex Still at the Crossroads.
Last Friday, the PM complex finished off the week with a strong up day after chopping sideways for most of the week. Even though it was a large rally, it still didn’t change the picture much between the bullish rising wedge or the beginning of the next consolidation pattern. It’s times like this that the markets like to test your patience before they reveal the true picture.
I was going over some old chart lists I haven’t looked at in a long time and found several charts for silver that may be of interest. Since there were no big changes in the PM complex last week, we’ll go over that area fairly quickly, as you’re already familiar with most of the charts, and then we’ll look at some of the old silver charts.
Tonight, I’d like to start out by looking at BTCUSD, as it was the first area that began to show significant weakness, which could possibly spread to other areas in time.
This first chart is a 2-hour line chart, which shows the most recent bearish rising wedge that led to the crash low in early February and now the bounce.



