# $SILVER to 15.62?

Silver currently sits below 17.00. Despite many of the conspiratorial whisperings of silver suppression (whether there is or isn't doesn't really matter for the purposes of this analysis), the price is behaving much as Murrey Math would expect.

Here's a look at the big picture of the silver price in terms of Murrey Math:

8/8 - 25.00

7/8 - 23.4375

6/8 - 21.875

5/8 - 20.3125

4/8 - 18.75

3/8 - 17.1875

2/8 - 15.625

1/8 - 14.0625

0/8 - 12.5

As a side note, if you follow the work of Martin Armstrong you may notice that many of the dates he uses look very much like Murrey Math numbers. I don't have any idea which of them started using these types of number first. It seems likely that Murrey and Armstrong may have either learned about these numbers from someone else, or may have developed their numbering systems separately. But, the fact that two very smart people have utilized these numbers with great success should indicate that Murrey Math is worth looking into.

What some might view as suppression of the silver price near 18.75 is, in reality, resistance at the 4/8 or 18.75 level. Having failed to take and hold the 4/8 level, the price began to backpeddle back through 3/8 or 17.1875.

Now there are many possible things that could happen, but two of the more probable ones are:

- The silver price claws its way back above 17.1875 and then spends time moving between the 3/8 and 5/8 Murrey Math levels or between 17.1875 and 20.3125. Since Murrey Math dictates that the price spends about 40% of the time moving between the 3/8 and 5/8 levels, this would not be surprising;
- Price fails to regain 17.1875 and eventually slips to 15.625 where it would likely catch a bounce higher.

Given the failure of the silver price to reach the upper green Murrey Math levels at the top of the chart combined with the Murrey Math Oscillator turning red at the bottom of the chart, it seems likely silver makes a trip down to near 15.62 before it makes another run higher.

Chart Analysis uses a combination of technical analysis and cycles to provide insight into the future direction of precious metals, currencies, stock indices and more.