Why the Price of Silver in 2017 Could See a Short-Term Dip

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
After last week’s strong performance, the price of silver in 2017 is now up 15.8%. That gives it a strong lead on gold prices, which are only up 12.2% so far this year.
While gold has just recently managed to break through resistance, silver prices have traded above such levels for three weeks now.
The white metal has been exhibiting mainly bullish technical behavior lately, and that’s been confirmed by silver mining stocks to a lesser extent.
But recent technical action in the silver price has me concerned about what might lie ahead. In fact, if we consider seasonal action for the price of silver, we may be nearing a peak that could lead to a correction in the coming months.

This post was published at Examiner by Peter Krauth ‘ April 17, 2017.