Silver is moving below its support at 33.37 (26/09/2012 low). A decisive break would validate a short-term double-top. An hourly resistance is at 33.54 (38.2% retracement of the decline from the 11 October high).

Silver, like Gold, has been able to hold above its key support. The break of the long-term declining trendline favours a lengthy sideways move. Long-term horizontal resistance is at 37.48.

Daily Technical Report