Silver has clawed back some ground following Monday’s thrashing, recouping as of this moment about half of a $2.27 loss.  The futures are trading Wednesday night near their recovery highs, but it will take a further push to at least 41.315 to shift the rally to a higher gear.  That would create a bullish impulse leg of hourly-chart degree, surpassing a small peak at 41.310 made on the way down earlier this week. _______ UPDATE (9:05a.m. EDT):  This gets so-o-o tiresome.  The futures took a whoopee cushion leap to 41.400, only to recede nearly as precipitously. Sometimes it seems as though we should trade this vehicle using a clock, not charts.  In any event, the bad guys will have to deal with the fact that the thrust, fleeting as it was, created a bullish impulse leg on the hourly chart. If and when the follow-through leg occurs, it has the potential to reach 41.495.  The midpoint resistance associated with that target is 41.020, so that’s the number to beat in the hour ahead. _______ FURTHER UPDATE (1:40 p.m. EDT):  The bad guys are sucking wind today, SIK having blown through every minor pivot that dared get in its way. The action has put a 43.61 rally target nicely in play, subject to possible midpoint kanoodling at 41.660.  That last number has already been exceeded, increasing the odds that the bad guys will reap further abuse and punishment in the days ahead. The pattern yielding the 43.31 target can be found on the hourly chart using the following coordinates: A=38.07 (4/5), B=41.975, C=39.705.