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Getting Ready to Play the Breakout in Silver

Consolidation range:
XAG/USD (silver) has been consolidation throughout the week and established a range roughly between 21.30 and 22. The range may have narrowed a bit toward the end of the week to reflect a coil, or triangle, but its consolidation nonetheless. 

Breakout trade:

A very simple trade idea is to trade the breakout. The 4H chart shows a trend so far in February, so a break to the upside would be preferred in terms of following the trend. A break below this week's consolidation would be against the Feb. trend. The 4H chart shows some levels that the market may consider support. 

(Silver 4H chart: click for full size)
The Daily chart shows this week's consolidation that came after a breakout week from the Dec-Jan consolidation, which you can call a bottom in this short to medium term. We see that a break above 22.00 opens up the 23.10 high and maybe the 23.40 pivot. 
We also see that if the market gets near 23, it will be testing a falling resistance that goes back to the 2011 high of 49.80.

(Silver Daily chart: click for full size)
Perhaps, its easier to see this falling resistance in the weekly chart.

(Silver Weekly chart: click for full size)