MAY SILVER

Resist: 32.05, 32.40*, 33.50*
Supprt: 31.05-, 30.62*
Comment: The market is bearish and last week’s downturn from flagging corrections renews the targeted
bear wave to test against the 30.62* weekly support level. A close under 30.62* alerts for a larger bear wave
under 29.55-. Be prepared for another 1-2 consolidation days inside last Wednesday’s range, but narrow
congestion will remain setup to resume selloffs. Only a close over 32.40* is needed to boost retracements
back over 32.95+.