MAY SILVER

Resist: 32.40, 32.95+, 33.55*
Supprt: 31.79, 31.48
Comment: Overall the market is bearish. This week’s slip under 32.00- suggests a rejection of near term corrections. Suspect attempts to extend secondary selloffs and use a drop under 31.48 to rekindle the bear wave and release a wash to 30.62* support. Be alert for a bounce off 30.62*+/- on the first test. A close over 33.55* is necessary to mark a bottoming turnaround.