Our hearts go out to Japan and hope they have a quick recovery from the earthquake, tsunami and now nuclear plant issues.
Below is a link to the Google page for donations to Japan:
A pullback was eminent even without the issues in Japan as the Silver run-up was $10 within 5 weeks!
Silver has dropped below the 15 day moving average and the next level of support may be the 61.8 fibonacci level which comes in around the $32.75. A 50% drop of the current rally is at $31.50 with the 50 day moving average at $30.86.
The MACD Histogram has dropped below the midpoint and the Stochastics K line in decline.
For some, this pullback may present an opportunity to accumulate more Silver and Gold.