"Silver continues to work within what appears to be a new and higher consolidation zone bounded by the level near $38 on the topside and supported on the bottom near the $37-$36.80 level."
"It will need to push through $38 and hold those gains to launch a new trending leg higher."
"Trend following indicator is now in a buy mode but the market must take out $38 to confirm the signal that a new trend is underway. A move that fails to clear $38 will confirm the top of the range is intact and will let price drift back lower once again to test the lower level of the range."
[Source: traderdannorcini.blogspot.com]
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