(Chart 1 - Silver Daily Zoom)
(Chart 2 - Silver Daily)
3750 is now the ultimate line in the sand resistance.
3594 was short term support
We are under that now (3584)
Short term support is the low of the blue bullish up channel (currently at 3550)
I see us getting through that in the next few days and testing 3440
If we bounce off of 3440, rallies into the 35-36 area can be sold for a move down to 3280.
Should we get though 3280, we are going to 2970
Long term I like buying physical silver as a hedge on my savings account (yes I'm one of "those"). However, I think it will correct to under 30 in the next few weeks - months and present a favorable entry point before another leg up.
Basically right now, I bet we see 30 before we see 38 (at 36, currently a 3:1 bet), but we will need to get under this blue bullish channel.
Dont sell here if you are conservative
Just keep this in mind for if it breaks lower then comes back up to the blue channel line
If you are aggressive and want to sell upside tests of 36 right here for an eventual break of that blue line, then be my guest ;)