Silver has a decision to make

Silver looks to be in the midst of a pullback. Wensdays FOMC meeting and fridays non farm payroll numbers will be crucial to the markets movement next week. If the fed sounds very hawkish, the pullback will likely go a little deeper for silver, possibly to the $22.60-$23 level. In the case where the fed comes off dovish or metals react positively, I see silver quickly rising to the $25.5-$26 level. The 200 daily moving average sits at $25.50, a test of the 200DMA at this point would be expected. The majority of silvers range between August last year and this years August was between $26-$27.7. The $26 level used to be support , now it serves as a resistance.