Silver futures firmed in Wednesday's trading session on a weaker dollar and overall rebound in the precious metals complex. After briefly dropping below $30 per ounce again this week, speculative buyers appear to be buying this long term support level in anticipation of a move higher.

The momentum from the swing low at $28,50 appears favorable for a continuation of the rally to the resistance just below $31.00 per ounce, with a possible move above that level to initiate the breakout, A failure at this level would prolong the development of the pattern and increase the chance of a retracement back to the support provided by the wedge.

Given the current momentum, volatility, and proximity to the top of the range, a break to the high side may find plenty of support to carry the market back to the mid-30's in the near term.

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