As we speak gold has fallen to $850/oz and silver has fallen with it back to $16.00/oz. This is not a support level, and since the US market has yet to close, I would not be surprised to see further weakness and a close either today or tomorrow around $15.50/oz. This is a strong support, and I dont see silver falling back to the $14.70 level. I expect silver prices to recover quickly, so $15.50 is a good entry level.
Andrew Sheldon www.sheldonthinks.com