MAY SILVER

Resist: 31.44-31.54
Supprt: 30.45-28.79
1* The directional selloff shows a strong probability for a corrective rebound today above 31.54

2* Yesterday's close signals breakout under a previous daily swing low and should prompt continuation selloffs the next 1-3 days. Sustained trade under the previous low will help motivate selloffs. Corrections should not close above 31.90 to maintain the breakout.

3* The downside objectives for this formation range from 29.99 to 28.89 with a close over 32.44 needed to negate a bear trading stance.

4* Market is within proximity of this week's projected support range of 29.48-30.95, which may provide a likely zone for bottoming action or rebounds.

5* The penetration of the recent 31.44 inside day low provides a bear trend signal.