Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

SLV:GLD More Weakness

|Includes: GLD, iShares Silver Trust ETF (SLV)

In my last post about SLV:GLD I said that I'm still bearish though this pair bounced on the long term up trend line. Today the techinicals show more evidence for further weakness. If it closes here, this pair broke below a small consolidation range, meaning it may move lower. Although this is a line chart, we can still view this as a big bear flag, with the drop from the top as the pole and the consolidation of past few days as the flag. Because today this pair broke below the flag, techinically the pattern says more downside is ahead. And the magnitude of the downside would be the same with that of the "pole".