Has Silver Finally Peaked?

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Although shorting silver has been a fool's errand for many years (said the man who sold his bullion brick at $9 per ounce), I still want to share a few charts. First, this chart of SLV shows the price mashed up against a very long-term price channel.

1230-slv

Second, a chart of the commodity itself, measured over decades, shows we are pushed up against a fan line. In the past, a rapid price ascent pushing against a fanline preceded a hearty fall.

1230-silver

Third, a cautionary chart – below is ZSL (the ultra-short on silver) in percentage terms. It is down something like 95% since its introduction.

1230-slvpercent

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