May Silver continues to chop sideways since its latest breakdown in price below the Dec low of 29.75 in mid Feb. Technical indicators continue to be bearish. Price needs to hold above 28.25 to avoid a selloff to 26.42 contract lows. Only clearing 29.75 resistance once again would suggest a run to at least the downtrendline around 30.50. Historically March into May has often seen a sharp rally, but to date nothing yet has occurred. Watch the break of channel levels of 29.75 and 28.25 for direction.