Silver is sitting right at an important technical level at 28 on the SLV ETF. If you take the topping pattern in silver over the last few months as a head and shoulders top the neckline is right about at 28. SLV also gapped down at that level a few weeks ago and has recently just managed to fill that gap. A breakdown from the gap fill would be bearish for silver, and would mean the bearish head and shoulders pattern is still in play with a downside target of at least 25. A breakout above the 28 level, however, would be bullish and possibly could mean an end to the downtrend in silver.
