Over the last 18 month we have had a new bullish trend start in gold and silver.

The trend is still intact, as nothing moves in a straight line, a trader must expect pullbacks. 

Yes one can say that Gold and Silver have yet to confirm their new trend by breaking out higher, but trends have to start somewhere, and we shall have to wait and see. 

At this point in time, if price halts the current punch lower, the trend should resume higher for both metals, and you can see on the chart below it is a great time to consider an entry point.

(Click on image to enlarge)

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net 

Investing Quote...
 

.."Tape reading is rapid-fire horse sense...The Tape Reader aims to make deductions from each succeeding transaction -- every shift of the market kaleidoscope; to grasp a new situation, force it lightning-like through the weighing machine of the brain and to reach a decision which will be acted upon with coolness and precision".. - Richard D Wyckoff

...“To me, the 'tape' is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”... - Martin Zweig

.."Until an hour before the Devil fell, God thought him beautiful in Heaven".. - Arthur Miller, “The Crucible”  [Contrarian Investing] 

.."it is better to have few stocks and to watch them carefully”... - Bernard Burach

Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market. - Warren Buffett