It now looks like we were a little too bullish in the last update, for the way silver has acted over the past week suggests that another sharp drop is imminent before the dust finally settles on this reactive phase, that it likely to take it to or some way below its recent panic lows.
More at: http://www.clivemaund.com/article.php?art_id=67&PHPSESSID=7fe12674dbde218f94413a7b5391f896