Overnight, the silver future pierced through its 20-day moving average and uptrend line from January, but was able to rally back above those levels. It is now testing 4/26-4/27 resistance. That was a bloody candle. Keep an eye on that trend line. As stated in my previous post, protecting against downside volatility made sense when looking at the chart. I provided links to articles on silver after the charts.
Silver Comex July 2011 Future (4-month chart) via Optionsxpress
Silver July 2011 Future (1-year chart) via Optionsxpress
Spot Silver (Kitco.com)
Why is silver selling off? Read these articles.
Portrait of Desperation (Jesse's Cafe Americain)
Silver Down 12%, Big Default Rumored at Comex (Naked Capitalism)
Think Or Swim Hikes Silver Margin To Double That Of CME (Zero Hedge)
More On The Silver Dive: "Massive Sell Orders" Coupled With Bolivian Nationalization Halt Combine For Perfect Weak Hand Shakeout Storm (Zero Hedge)
Silver Plunges On China Slowdown Concerns, Dollar Short Covering (Zero Hedge)
It's Getting Plain Silly: MF Global Hikes Silver Margin To 175% Of CME, Or Over 10% Of Contract (Zero Hedge)
GoldCore Questions On Comex Silver Default Due To Secret Buying By Russian Billionaire, Chinese Traders and People's Bank Of China (Zero Hedge)
CME Group silver margin hikes (1 and 2 at Zero Hedge)