Silver

2/3/11

9:03EST

Silver:

we just pushed off from the key OAV (28.14(5)

as such it must reach 29.33 and 29.42

28.58 is the key resistance (now term)

29.09 reaching or not is also quite profound

not reaching 29.33

adds to the downside compression

remember the below update from yesterday

Silver:

I reviewed it again for several of your inquiries

I don’t like the upside

Reason being is this

We have a compression detachment at 29.12 (pointing down)

Until we close this pattern

The move is down

Also today we failed to even reach an open compression gap at 28.80

Heck the USD traded down straight for 10 days and the silver also traded down at the same time

Staying above 27.86 puts us in neutral territory (marginally) (long term)

Immediate term:

28.14(5) is the bull bear divider