That didn't take long. After nearly doubling from $27 to $49.82 in just three months, silver is down 24% over the last four days, officially putting it in bear market (-20%+) territory. As shown below, silver has finally broken below its 50-day moving average today.
And don't look now, but oil is down to $105 as of this morning, putting it below its 50-day moving average as well. Oil is now down 8.2% from its high of $114.83 seen on Monday.