Silver - 4 hour chart

Silver has bounced off of support down near $33 once again and is moving higher at this hour. Thus far it is reinforcing that level as good buying support with selling coming in near $36 - $37. It might very well be carving out a new range.

Keep in mind that as equity markets move higher, so too will silver and as equity markets move lower, silver will follow. It is all about risk trades and money flows for the time being and whether or not the hedge funds are putting those on or taking them off.