Daily Silver Technical Update(13/9/12)

Daily Technical Analysis for Silver:

Sorry guys the updates were not regular this week but the mentioned resistance zone capped the rally quite well.We'll have a detailed update this weekend possibly.

Now,today the volatility would "BURST" similar to what it did on the payroll data release.So remain CAUTIOUS.Now going to the technical picture silver is overbought but this does not always mean that it will fall hard,but now, it looks like the downside potential must start increasing, because we did have a sharp reversal yesterday.This is the point which would decide silver's medium term outlook.Old highs must cap(34.09) any further rallies,on a breach we would next eye 35.06 region.Support at 32.46-32.00

Happy Trading.