Silver Retest Begins

As you can see by the green line in the chart that after 1am est Silver went as high as 38.75 and since its been in a straight line down. Now the question is where is it headed. Silver has support at 36.25 to 36 but that isn't very strong support. Next level lower is 34 where there is moderate support and major support between 33-32. I do not think we see that level as hedge funds are mostly out of this market and the BB's are climbing in to the long side. The USD index is down a bit today as is gold and oil. 

Conclusion: Having almost reached our target of 39-39.5 a day and a half early we now most likely headed for 36. The next move up will most likely take us through 39 and then to 42.