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Friday 7th Jan 2011

Well,

It's looking downhill for the foreseeable future now.

Silver has dropped to below its 30 DMA and MACD is in freefall. 50 day moving average support is at 27.90.

Similarly gold closed below its 50 day moving average for the first time since this rally began in August 2010. MACD is also showing downward movement.

It's time to be patient and ride this downswing out.