Looking at the Daily chart
, we can see an impulsive bearish
move, followed by a wedge
continuation type pattern. We have since broken the wedge
to the downside for a further drop, with that in mind, the pattern's projection is at around the $12.57 per ounce level. This is our current suggested target area for those who are already short, and would also be an interesting area to buy silver
if it does indeed drop further down.