SILVER Intraday Technical Analysis 2012-02-27

The silver is currently testing the upper limit of its medium term bullish channel at 35.70 and seems to initiate a decline. However, a break of these levels will free up significant potential and initiate a bullish trend more violent.
Technical indicators provide sell-signals and are approaching the overbuy zone supporting the assumption of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market will indicate a bullish opportunity as soon as the silver has broken its resistance at 35.70 with the 1st objective of 36.30, then 36.50. A break through 35.50 will invalidate this scenario.

SILVER Intraday Technical analysis 2012-02-13

The silver is currently testing the intermediate resistance of its medium term bullish channel in 33.90 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 34.60.
RSI provide buyers signals but approaching to the overbuy zone suggesting a decline. Bollinger bands are stabilized showing a more regular volatility.
According to previous events, the market indicates a bullish opportunity as soon as the silver will have broken its resistance in 33.90 with a 1st objective of 34.40, then 34.60. A break in 33.70 would invalidate this scenario.