Fascinating analysis by Eric de Groot. More short covering and long liquidation seems to be needed in silver. The question is whether they will provoke a fierce drop right here or whether they will let the price of silver first run up some more and then make it drop to shake out the longs and cover their shorts.
http://edegrootinsights.blogspot.com/2011/10/still-work-to-be-done-in-silver.html