Silver has been downtredning for a while now, looking at the weekly chart, we feel like the 17 area is supportive and might hold, especially considering the recent bounce-back in Gold and its correlation to silver, however, It should be noted that silver is a more industry oriented metal than Gold, and thus it is entirely conceivable to see some divergence between the two.
That being said, if the metal continues to push down we'd be very interested buyers at the 14-12 handle, as it both completes a long term bat pattern as well as being a historic demand zone.
That being said, if the metal continues to push down we'd be very interested buyers at the 14-12 handle, as it both completes a long term bat pattern as well as being a historic demand zone.