NEW YORK ( TheStreet) -- The past couple of weeks I've been bombarded with emails asking if gold and silver have bottomed and if people should be buying more on these pullbacks. Those of you reading my work for the past few months know that my analysis clearly has shown how both gold and silver have been topping out. There has been strong distribution selling, and price patterns on the charts clearly signal a top is near. Here's an update on silver, gold and the dollar. Silver Daily Chart
Silver has formed a very nice-looking top and it is now trading under its key moving averages. It is also currently testing a key resistance level after Friday's bounce on the back of fears in Egypt. Unless something happens internationally, I figure silver will continue its trend down.