We have been long Silver for a while and feel that tonight's FED meeting is crucial as Silver has stabilised over the past few days at the current level. However, any major price action from the FED announcement and statement current level knowing Silver's volatile nature could quickly lead to price breaking the $16 support level towards $15.6. Alternatively, prices could move past the $16.6 resistance level towards $17.3, but at this stage we are long above $16 and will look to buy on pullbacks.