Here is what I said about silver on February 1st. Here is the previous chart reproduced below, in which I clearly mentioned the upcoming correction.
Silver failed to cross the resistance zone again and tumbled down from the same area of 17.80 indicated in the chart. It also made clear that our expectation of irregular flat is becoming reality now as our expected so called wave B just stopped at 17.745 near 161.80% of entire wave A, and we are witnessing a decline in wave C. Let's have a look at the recent daily chart: 
Silver has strong support in the zone of 17.00 followed by 16.80-16.55 according to daily chart and this current decline should get first support in the area of 16.9-17.00, which if breached, then another strong support comes around 16.55. Risk reward ratio is in favour of buyers on decline towards mentioned support area.
Indicators check:
MACD: Showing some weakness
RSI: Showing some weakness
Lets have a closer look with a lower time frame on the 5 hour chart:
Silver is developing an irregular Flat, and now is showing a correction in wave C. Projection for the wave C: If it remains short: 61.8% area around 17.28 (already there). 100% area around 17.00 and 161.80% in case of extended comes around 16.60. Since wave B ended just before 161.80% area of A, there is some possibilty of full retracement of wave B again means the area of 16.64 (also the 161.8% retracement area of wave A) becomes critical and a good buy zone too.
MACD has just given the sell signal, RSI also tumbling down. Let's hope for a good buying area. If silver refuses to go below 17.00 and takes out previous high with impulse, then it should be considered a failure of pattern and one should go for a buy.
Resistance: 17.80/18.20
Support: 16.90/16.55