Daily Silver Technical Update(1/10/12)

Daily Technical Analysis for Silver:

Price are moving in a sideways pattern since mid September between $35 and $34 zone.We were anticipating a pullback and it did occur in the 33.26-32.76 zone testing the higher end.But we still continue to hold this scenario and think that prices should continue to pullback,provided 35.22 is not breached.This sideways price action must continue for this week too because the previous move was too far too fast.Support for the pullback remains at the same zone 33.26-32.76 and then 32.46 probably.

Happy Trading.