Silver rallied more than % from its 2011 year end bottom at 25.80. Current price is testing extremely important resistance. The level at $34 combines 200-day moving average and resistance line connecting previous two peaks. If we see the silver trading over that level than we have clear signal for breaking the negative trend with next target north to 40$. Unsuccessful break through could lower price to the support at 50-day moving average at $30.50.