XAG/USD Weekly Chart" title="XAG/USD Weekly Chart" width="909" height="320">
Silver has at last found direction and resumed the two and a half year bear trend, despite being oversold. This morning's open below the 100 day moving average at 21.43 is confirmation and could test the next support at 21.05/00. This should hold the downside, but if we continue lower look for 20.55/50.
Immediate resistance at 21.47/50, but above here a selling opportunity at 21.78/82.