Silver might break that $ 28 mark tonight. This is the first fib level on the down (20 %), next fib level around $ 26 (40 %). Interesting also we had a head and shoulders pattern the past month whose shoulder level is about $ 28. The magnitude of the head and shoulders pattern suggests a retrace to about $ 26.
CFTC meeting tonight might well cause the $ 28 mark to be breached. If we do retrace I don't think it will be to long for the rebound.
All my opinion and may well be wrong.
'slv etf shows 4.9 million ounce withdrawal', page-14
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