Comex May Silver (last (12.875)

Like Gold, Silver keeps popping bullish impulse legs on the intraday charts, only to squander the opportunity by receding into feebleness. I read the action as biding time, not weakness,but a fall to 11.620 is possible over the next 4-5 days if SI follows Gold down to its 845 target.  The near-term picture would brighten, to put it mildly, if the May contract were to close for two consecutive days above 13.560. That’s a midpoint resistance, and its decisive breach would indicate more upside to at least 14.555. Late Thursday night, around 2 a.m., the futures were working on a promising bullish impulse leg with a correction so far down to 12.850 (aka point ‘C’). If it holds, the “buy” trigger would come at 13.060, with midpoint resistance at 13.560.