Silver today vs 2008 – Does it look familiar?

At the end of April 2011, we warned for the end of the Parabolic rise in Silver prices.
We compared the move in silver prices with 2004, 2006 and 2008. Click HERE to read an example.
Here is an updated version, and it looks like price is tracking the 2008 pattern very well…

First of all, let’s look at silver in 2008:

Chart created with Prorealtime.com

Let’s now have a look at Silver in 2011:

Chart created with Prorealtime.com

Does this look similar? See what happens when we lay one chart on top of the other:

Chart created with Prorealtime.com

Back in 2008, silver fell as low as $8 because nearly all financial assets were sold off.
A similar move could bring silver back to as low as $13.

It looks impossible, but you never know with todays Banksters.