Silver has had quite a few days where it looked like it was going to break out, then it's suddenly pushed back down. On the other hand, there have been days where it has been down big and then jumps in midday. It really seems this $24/oz area is key for some reason.
Nothing goes straight up or down. It usually will consolidate for awhile and then continue whatever trend is in place. Here the trend is clearly down. Silver last consolidated in the 32 range, then 27, now 24. At 31-32 the miners presaged the move down in the physical to 27 and recently the miners have been forecasting another move down in the physical. We longs desperately need a reversal day to attract even a little market optimism. Otherwise, we are going to hear more and more about silver continuing to move back to its mean price line--and that would not be good for us longs as that would be about $12, with gold at $1000. Good luck. I am at this point in the tank with you.