Summary: By looking at the longer-term monthly charts for Comex silver futures—which helps investors see the bigger picture and avoid all of the distractions from the highs and lows of day-to-day trading—it is clear that currently silver prices are in a major downtrend. The bears have the strong technical advantage and silver futures prices are moving dangerously close to the 2013 low of $18.185 an ounce. For the silver market bulls to turn this trend around in the coming year, they will have to push nearby futures prices back above the strong chart resistance of $25.00, which would suggest the market has bottomed out and overwrite the strong downward trend now in place on the monthly continuation chart. Read more…