Full Disclosure: I'm not a professional in any sense. I am however new to trading and very interested particularly in the metals lately. That being the case the following is probably worth what you paid for it... ;)
Note the highlighted green triangle just below R1 (Resistance 1) and above S1 (Support 1).
1. As we move along S1 in the coming days, the room that silver has to run appears to tighten which usually indicates the end of consolidation and the beginning of the next leg up in price.
2. Based on this , Ivar's GSR report, COT's continued bullishness etc, I see silver's next move up to roughly $37 later this week or early next week.
3. On the side of things, I believe these 'squeezes' can also work in the opposite direction or declining price. Working against a price increase we have the Fed backed Mega Banking Cartels ( JPM , et al) who have massive naked short positions and high frequency trading to defend their demise from the 'all important' $35.50 - $36 range.
1. When will Demand overpower Supply and thus the cartel's short positions.
1. War w/ Iran
2. Euro Crisis
4. China's Slowing Economy
5. Global Market Confidence
6. Policy & Legal rulings (CFTC)
7. US Dollar debasement (Fed's Money Printing)
Without further analysis, these factors alone make me a buyer of precious metals bullion & securities. Add the technical components and I'd say the momentum appreciating the price outweighs the ability of the Fed to continue sponsoring any further price supression. I'm bullish!
Silver Target: @ or near $36.50 in the 10/12/2012 timeframe