In recent weeks silver has quietly pulled back into an area of important support/resistance:

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Not only does the $20.00-$20.50 area represent important support/resistance, there are also a couple of other technical developments which make this a potential sweet spot for silver; the rising 50-day SMA is on the verge of crossing above the flat 200-day SMA (golden cross), there is added significance when a golden cross occurs near the apex of a falling wedge near an important area of support.

The Weekly chart of silver shows a descending triangle with clear bullish momentum divergences and a relative strength index (RSI-14) which is currently sitting right at the median line:


All signs point to this being a sweet spot for silver and a resolution to these chart patterns seems like it is quite likely to occur in August.