In the Wednesday update at the website -- we discussed that silver had reached the upper red channel line and a pullback into Thursday/Friday might be in store for silver. Resistance is at the 34.70-35.08 area.............and first support is the 32.50-33.40 area. Short term cycles that are due to peak may have done so as well. If this is the case -- the pullback could extend in next weeks trading. Watch the lower red channel line and the upper dotted trend line as support.