A close today over 88.56 USD/CHF (under 112.93 futures “SFM”) is very significant. This would put in an outside reversal day in the Suisse which would more than likely telegraph some severe profit taking in the metals. Watch the level for price rejection the first time in to match up with support areas in the Gold and Silver.

Day traders..if the bottom drops out of the Silver 42.05-41.77 is still a great level for a buy. If you attempt this trade use very tight risk controls. Take at least 50% of your trade off on a 75 cent rally off the level to pay for your stop. If we see this level it will seem like the Silver is in free fall.