September 27: Silver broke down and triggered new downside Fibonacci extension targets Silver more than most vehicles “always” returns down to previous support levels on the way up. In this instance it touched on that, then went up and now back down for a second, deeper test of support. See our article on silver retracements.
October 1 update: Silver futures had a low of 16.94 so far.
November 8 update: Silver futures had a low of 16.66 this morning, just shy of the 100% level. Bulls hope that was the bottom.
December 6 update: The pattern still holds, with a low today of 16.47 before rebounding slightly above the 100% level.
February 12 update: Silver continues to meander within the Fibonacci range shown on the chart.
February 28 update: Silver had a low of 16.40 today, keeping this downward probe pattern intact.