Silver was chomping on the bit Thursday night, just a couple of ticks shy of eating through the resistance of a look-to-the-left peak recorded Tuesday on the way down. Whatever further gains it achieves will be part of the impulse leg begun from the day’s lows, since the pullback from the high did not quite qualify as a correction. My minimum upside objective is currently 16.310, a midpoint resistance, but if it’s exceeded on a closing basis the new target would be 16.985.
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