Silver has pulled back to the long term previously tested support level around $26.50. This is also the 3 year uptrendline. It is now approaching the moment of truth. The chart pattern is a very bearish Descending Triangle. A 'clear' breakdown that holds below support would project a dramatic selloff the depth of the triangle. There is little to no support below until about $19.50. The RSI 21 is below the 30 level which is very oversold territory and rarely seen.