Silver broke short term resistance.

Technically, silver broke resistance provided by the 14dMA. We could see silver's price going higher from here in the short term. This could be in response to the political turmoil and social unrest in the Middle East. We live in uneasy times.

So, am I buying more? Well, technically, the 14dMA has turned down while the 200dMA is still rising. Silver could just be bouncing higher in the short run before trending lower once more. I said before that we could see silver sinking closer to the US$24.00/ounce level and I am still of that believe.

I don't like to chase. If I missed the boat, too bad for me but I would sleep better at night knowing that I did not pay too high a price for something. Of course, this is subjective as there is nothing to say that high could not go higher.