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Silver Crash Imminent,
as Key Support Level Has Been Cut

Silver has briefly breached the 22 $ support level and dipped below, reaching a minimum of 21.15 $ this Monday (May 20th, 2013), but the quick spike that followed has propelled silver surprisingly high to 23.40 $.

Even more: silver traded very close to 23 $ for a long time during the rest of that day.

Interestingly, while gold ETF liquidations have been occurring in large numbers, silver ETFs aren't sold at a similar scale. In fact, yearly silver ETFs are up.

Silver is at a 3 year low level and it's likely that it will continue falling. Some corrections may occur, but the dip below 20 $ is expected by many analysts.

The Standard Bank from South Africa considers the silver supply-demand fundamentals weak. And, it seems the silver ETF liquidations may occur sometime in the near future.

If silver dips below 20 $, then it might be headed for the 15-20 $ range.

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