Silver Chart 3-23-14

The 50 MA has not reached the 200 MA and leveled out below it. It looks like there will be pressure that will keep the price down till in the oversold position. Silver could touch the $ 19.00 level. It looks like that is where buyers will step in. Regarding the Golden Cross, a test like this is said to take place before confirmation of a bullish move. With some ETF`s in precious metals the 50 MA crossed so that could have been the trigger to test the technicals rather than the actual Gold and Silver charts. This has been an interesting move to see if the 50 MA crossing the 200 would over rule an overbought position on the technicals. It hasn`t ! I`ll be looking for the oversold position and any possible reversal. Stay tuned.