Silver: Another shallow correction?

Silver retreated and touched US$34.20 but rebounded to US$35.90. It has yet to test support provided by the 20dMA at US$33.50. Of course, it is possible that it might not test support and head higher. TA, after all, only shows where the supports are. It does not say supports must be tested.

However, I believe that it is a matter of time that supports are tested. I do not like to chase prices higher. Going by the technical chart, there are certain signs that the upward movement is losing momentum. Candlesticks show that highs are all somewhat lower than that of five sessions ago while the lows have been getting lower in the last two sessions. Look at the MACD. It is closing in on the signal line and looks as if it might be forming a bearish crossover. This is the first time it has happened since end of January 2011.

I am looking to the 20d and 50dMAs as fair entry prices.