Silver always follows the footsteps of its role model (GOLD). Both of them has been having trouble since the high of Apr 2011 and Sep of 2011. Silver is been even weaker, because its demise started 5 months before gold’s demise. Silver and Gold are taking a little break before they start going a lot higher in the future.
Area $26.15 was a humongous suport for silver because since Apr of 2011 it has been tested it 5 times, now that level is been compromised therefore Silver will drop… Target #1 is $23 and target #2 is $19.50.
Also an important up trend line is been broken along with certain Fibonacci levels turning to resistance points…
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