| From a technical perspective, the price of silver is obviously breaking down. The market has been 'trading heavy' for a while. Furthermore, the entire commodities complex is trading in a downward trending channel, except for oil. The U.S. Dollar is also stronger because of the Euro aftermath.
Nevertheless, lots of silver longs are still holding their positions since open interest has remained high despite the move down from the 32 region. Open interest will usually fall on big declines like this, but many longs have hung on and some believe the big shorts want to force a real washout before covering a large portion of their positions...............................................Full Article: Source
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