If you have a quick look at all commodities - they are all equally depressed (except Natural Gas but there's another story to that).
The silver chart (XAGUSD) bears similarity to the post above with a target of $22.10 which was hit as well in the last few hours.
I have been historically very bullish on both Silver and Gold but it has been driven mainly by backwardation back in 2009 which indicates a lack of physical metals in the exchange. The problem however is that the general public are battling against bankers who have extremely high leverage and hence in some ways, a "fictatious" ability to drive fear in actual physical holders.
As an example of this, the trades for yesterday were nearly >50% of the p.a gold production in the world. Further,April which is usually a non-event is anything but quiet.
Hold physical in my opinion but if you are trading financial instruments, expect volatility and trade the kinks as financial solvency is not necessarily correlated with logic.
