I thought it would be interesting to analyze the action in silver recently not only from the point of view of where it is headed but also from learning point of view. Let's start with the daily chart first. The gap down below MA(50) on Friday was telling as gap downs/ups below/above important levels usually are. The pullback to MA(50) was on relatively low volume with the volume decreasing progressively as it went higher. The rejection at MA(50) today was bad news for the bulls. Look at the volume of today's down move. The next level of support is the low from Monday, 33.60. The next support is at 30.04. Don't be eager to call a bottom on silver just yet!
Let's have a look at the weekly chart now. The price finds itself right at the weekly MA(20). As can be seen from the chart below, this is a very important level of support and this is right where the price found support earlier this year. Let' see if silver finds support here tomorrow. A break of this level and further downside is on the cards.
Take care and good luck!
Here is my take on the dollar.