Above is the daily chart of Silver (XAG). Just having reached the resistant level given by both the 50-day Simple Moving Average and 50% retracement level, the price drops a bit and is at around 34 now.
Obviously, an almost-the-same pattern as that in previous upward-trending channel is formed. Does it signal another plunge coming?
If so, 30 will be the first great support.
If not, 35 remains a strong resistance. 39 will be ultimate resistant given by the medium-term down-trend line.
Personally, I believe downward movement is more likely.
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