Review for Silver movement

Silver price has been plunged from close to record high at US$49 to current price US$35.5, which around 38% major correction. So what's the reason behind for this time round correction? From I think are 1) profit taking as the psychological barrier at US$50; 2) increase of the deposit for Silver futures in US market cause the weaker holder short sell or profit taking; 3) Big financial institution, e.g. George Soros leading fund & World richest man - Carlos Slim Helú has been selling Silver to earn big bucks. But in terms of fundamental view of Silver situation, it still has not been changed all the while as the supply is limited and the demand from emerging markets is robust.

What can you learn from this time round of correction? The only regret I have is not able to sell 50% (Note: not 100% as I still think bullish of Silver) of my holding at the high price, and buy back at low price later. Currently, I'm still enjoying ROI of 26% for my Silver, which in fact, the strategies I have thought is probably I'm going to increase my stake on Silver as the price plunge or stay sideline if the price increase. The mid-term support level is at US$30, as the current price is ranging between US$33 - 36. Compare to the downside (at US$30) & upside (at US$49 as previous record) for Silver price, the decision has come clear that upside is definitely double than downside. Thus I have made my mind to increase the stake.

From the TA, the current price is below 50 MA (US$39.1), slight above 100MA (US$35.35) & far above 200 MA (US$28.84). We shall see if a pattern of head & shoulder will be formed on next few weeks before it might reverse the chart to bearish again.