Silver stays consolidated, but keeps its bearish trend

Silver and gold have a very close positive correlation, which means that when gold drops, silver also drops and vice versa. The rally on the Dollar has been hurting the precious metals that quote in Dollars like gold and silver. That is why silver has kept a well-sustained bearish trend since the middle of May, as we can see on the daily chart. At the moment, silver has found a good support around the 14.35, which it has already visited two times and where the Fractals have shown possible bullish reversals, but the 15.00 level has acted as a good resistance and it has not allowed the price to show a real bullish correction yet. The Parabolic SAR points are relatively away from the current price and are pointing to the downside, indicating that the bearish trend is still in place regardless of the consolidation. However, if the price breaks above the 15.00 level, that could be an indication that the price is correcting to the upside, but if it breaks below the 14.35 level then the bearish momentum may come in again and the metal may try to continue with its downward trend.