There is major cloud support for silver at $21 on the weekly chart.  The only wrinkle would be if they managed to drive it below that level by Friday close.  Starting next week, $21 will be an extremely solid support level.

There is also the rising 50 WMA, currently at $21.63.  I have speculated that I thought silver would probably tag that level before it began its next up leg.  Whether it tags that level in the next month or two or in 5 or 6 months is anyone’s guess.

Yes, there is a lot of room between those levels and current price, however, I would think that silver’s next intermediate cycle low will be above the last intermediate cycle low around $22 (i.e., it will make a higher low).  Just thought I would provide this for some perspective on a “worst case scenario.”