Silver has had quite a run especially since it's breakout last September and is up over 100% since that time. As long as we have negative real interest rates I do not really worry about the long term trend for silver. However, in the short term, silver had just hit to top of its recent ascending channel, the RSI 14 indicates it is oversold, and the RSI14 has not been in an oversold position since February 2010, although it was close to be during January 2011 correction. (See SLV ETF chart below, Source: Boursorama.com).
So unless we are right now in the final stage of silver bull market, we could expect a short term correction of silver to the lower band of the ascending channel close to 30 USD. I