Got to completely disagree with this technical analysis. Have you ever considered the volume of contracts being traded by these HFT machines versus the actual physical? The silver volumes traded are simply rediculous compared to annual physical production. This just proves to me the market is broken. Rumour has it that banks are once again refusing to deliver customers' allocated gold held in vaults. Taking into account we are into the summer doldrums and the Indians do not start buying until late Aug/ early September the price action may be sideways for some time. However still expect a bounce post non-farm payrolls. The recent action is surely all about going long the index and shorting golds/silver, but nothing to do with the price of real physical metal.