Weekly Silver Technical Update(1/10/12-5/10/12)

Weekly Technical Analysis for Silver:

There was not much price action this week, a pullback is anticipated into the 33.26-33.76 zone provided 35.22 is not breached on a strong daily close. If it does we would next target the 37.50 area.

               The highlighted area denotes support for the medium term.The medium term has already turned neutral/neutral bullish.For continued upside price action 29-29.50 must hold.

Happy Trading.