If you have been watching silver yesterday and today, you will have noticed a large pullback to about 28.50. There are a lot of factors going on but I tend to think that the uptrend has lower range of 27.50 so it could go down even further. However, there are no guarantees and as you see consolidation happening in the price, it may mean that the trend being tested. I happen to think that we are looking at more volatility in the coming days as we lead up to the infamous December 11 2010, where JP Morgan is forced to cover their short positions in the market.
I am bullish on Silver, if you haven’t guessed already, and tend to view any dip as a buying oppurtunity. Check out my list of bullion suppliers here.