Is $36.7/ounce Silver an important level?

This 36.7 level was resistance on 7th March 2011 and then became support on 29th March 2011. From here it launched higher to hit the 31yr all time high of 49.79. As I write this post, the current spot price is 36.70. Prior to this it was support on both 26th May 2011 and 2nd June 2011 and a subsequent break to the downside before rising back up to this 36.70 level again. From this, we may be able to conclude, that in order for us to get excited again, we need to go above this 36.70 level and stay above it. Thereafter, we need to shoot past 38.50.