Silver ~ Update ~ 20 May 2012

The situation for silver is very similar to the one for gold. Silver continued its sell-off until mid last week when it almost hit the support at 26 $. It then rallied for the rest of the week and it looks like this low isn't only a short-term but a medium-term low.

The next targets are 30 and 31.3ish. The medium-term trend is bullish again if we get above these levels.