As noted near the bottom of today’s commentary, Comex Silver is lagging Gold badly and needs to pop today if it is not to become a serious drag on the latter. I’ve set the bar at 16.970,but keep in mind that once the rally exceeds the first of the two labeled peaks, it will need to climb above the second without a distinctive correction. Notice in the accompanying chart that camouflage would have worked to get long for the final hour or so of yesterday’s bull move. It will be tougher to find now, though, since any further progress to the upside is likely to produce an obvious breakout. Expert ‘camo’ play: On the 3-minute chart, check out the tiny gap between peaks at 16.740 and 16.755, respectively at 9:18 a.m. and 7:45 a.m. on January 28. A pullback from a top occurring between them could get you aboard ahead of a breakout.
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