from Silver Vigilante:
By the end of the day Thursday, silver has crossed below its 18-month bottom of $26.25. It broke through this on the bid before 11:30 AM Pacific Standard Time, west coast United States. Therefore, expect possible further weakness tonight on the Globex. Silver fell quickly down to $26.13 for a spike-low that might be the bringer of warning for the future. Calls are being made for a weaker euro, such as is covered here. More pressure is being put on the United States financials, and thus the stock market, as $9 billion is reported lost at JPMorgan. Both of these signal bearish for precious metals, including silver.
With $26.75 now a memory since the metals fell Thursday and Friday of last week, and $26.25 barely hanging on, if at all, it is reasonable to conclude that the most recent medium-term paradigm for silver has broken down.
Will silver bounce off this low? It very well might. But, finance capital has, through their manipulation of the silver market, demonstrated their awesome patience.