So its up the stairs and down the elevator for silver it would seem. Now of the levels I mentioned from the chart I posted before, the one level not mentioned was the 38.2% fib retracement. That level works out to $39.43, which worked out to be an excellent turn point. This means the more bearish targets come into play. From the 38.2% level, it retraced to the gap at $35 in quick time. Dan Norcini drew in his fib lines wrong, because he used the lower top, whereas I used the very top, and it bang on hit the 38.2%. The $35 level for me was the line in the sand between long or short positions. I think if the sellers are back again tonight, then the $35 will be broken, and then Armstrongs lower support levels may come into play. A double bottom at $33 is possible, but IMO not likely. I had a limit order at $35.05 last night that didn't get filled because of the 3c spread meant it needed to get to $35.02, but it missed by 1.8c. Between 35 and 38 is neutral ground for me, maybe a good area for consolidation. The selloff last night started on the NY open. Trade safely all.
