SLV/GLD

Last night this area was very suspicious when I looked at the chart.

Here's the daily SLV chart in a negative divergence

 1 min chart is in line right now, but GLD's is starting to fall apart, SLV will probably follow shortly 

Here's the area that was suspicious and there's a 15 min negative divergence, the timeframe that usually confirms reversals

GLD, with 2 areas of suspicion.

You can see negative divergences at both on the hourly chart. The 15 min has also turned down.

Here's the 1 min GLD chart.

In my opinion, the intermediate trend for both will be down. There will be bumps and bounces along the way, but the most likely outcome is for the reversal to carry each down further.

The dynamics of gold and silver while seemingly similar, couldn't be more different. The main issue behind gold is Chinese accumulation to possibly start a gold backed currency standard. The dynamics of silver are JPM/HSBC's massive short positions against silver. So target wise, I don't know, we will just have to follow the cycle and look for accumulation to signal what the next move will be.