http://news.silverseek.com/CliveMaund/1206338280.php

Clive is indicating that silver may rise from here (text), and according to this chart silver is very oversold - albeit may have more room to fall.  Based on where one draws the channel lines and the indicated support area.

However silver has already completed a 61.8% fibonacci retracement of the last wave up, and the approx 0.50 rise on Friday am was from a support line that isnt indicated on this chart.

Also bear in mind gold bounced from the bottom of its lower trend line