Market Update on Silver 4/12/2018

And we have a failure to launch...or you can say it was a failed launch. So here we are back in the running flat channel we have been in since February 5 and this has to be getting stale for anyone watching price action.

Drilling down to a 3m chart price action is mixed but the timing of selling is undercutting buying so the chart is more bearish looking than the internals suggest. I'm going to declare the price action you are seeing now as 'accumulation' and not a 'distribution' pattern. Therefore, and if this is true, we are going to see price consolidate here for a bit, and turn back to the upside.

SLV is lagging pattern slightly.