 Hello and welcome to the chart of the week video with me, David Madden. Today's date is Thursday 15th November 2018, and the time has just gone 12 or 5 GMD. This week's chart of the week is silver. Taking a look here at the wider view, we can see that silver has been a very decent downward trend over the last several months. Between June and September, we saw a classic example of a downward trend. The last series of lower lows and lower highs. From mid-September to mid-October, we did see a bit of a bounce back. The market was pushing higher and we gained some of the ground lost over the previous months. But it didn't really have much of a bounce back. And what we know, we've turned lower yet again. In fact, yesterday, silver fell to a level not seen since January 2016. So give an indication of how bearish the silver market currently is. And if we push lower again, and we take out yesterday's low at 13.89, we could be heading back down towards 13.65, a level not seen since December 2015. So we could be approaching nearly three-year lows on silver. Should we actually move any lower from here? Now, it is worth pointing out that we could have a near-term squeeze in the short-term. Take a look at the disc handle here. This disc handle is fairly bullish. It could be construed as a bullish engulfing. So that might actually might lead to a push higher in the near-term. If you do push a higher from here, resistance may come into play at this blue line here, the fifthly moving average, which comes into play at 14.42. And if you go beyond 14.42, we could be looking at targeting this area here, 15.00. Now, we didn't get quite as high as it in November or in October, but the area did act as both in support and resistance only a few months ago. And if a level has been an important metric in the past, it makes it more likely it will be an important metric in the future. And should we break beyond 15.00, that would create multi-month highs. You could be more confident that the wire downward trend is no longer in effect. But while we remain south of 15.00, it's likely we could see further ground loss on silver. If you're going to be trading in the silver market, it's worth a while keeping an eye on the US dollar as well. The US dollar index not too long ago was at a 17-month high, and recently there's been a strong inverse relationship between the silver market and the gold market. So what I'm saying there is that it's not coincidence that the silver market has been weak at the same time when the dollar market has been strong. And if you do, if you have seen days when the dollar has pulled back on some occasions, has acted as a boost to silver. If you are going to trade silver, please keep an eye out for the US economic indicators today in about an hour, an hour and a half time. We have a number of important US economic indicators. We retail sales, we have the fully fed manufacturing, we've also the empire state manufacturing. Before we finish up, if you have any comments to make on this video or any of the other videos we've made here at CMC markets, please feel free to leave a review on Google reviews. And that's all for me this week. Thank you very much.