Silver for Thursday

The silver market continues to find support just under 34 ---- as it has survived three price probes there. Still --- the dotted trend line seems to be a more important area for support -- and a move to test it cannot be excluded. Shorter term cycles are due to bottom --- between now and Tuesday. If the market does test 33 ---- it will be a key spot to watch for a short term bottom. Support today is 33.50-33.70 and resistance is the 34.70-35.00 ----- the G-7 are having a conference call later today. In summary -- the chart pattern does not seem complete just yet ---- and stronger support is the dotted trend line near 33.

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