Here is an interesting chart of SILVER. I don’t usually watch this chart but this is a set-up that is worth my attention. First of all the $32.73 support level was a previous resistance and this seems to be really strong.
The up-swing in late October retraced about 50% and bounced off the main support ($32.73). The bullish target is set in the $37.81 resistance zone, by projecting the previous up-move from the $32.73 level in the trend direction (up). Moreover, the $37.81 zone is important due to the early august low.
The first target, however, is set by the late October highs, in the $35.40 area.