On the 5-minute chart, the March contract had gone about as far as it could go Sunday night, hitting the 9.665 target shown within a single tick. This doesn’t necessarily mean the rally is over, and it would in fact be a bullish sign for the near term if the futures were to get second wind, mustering the modest leap it would require to surpass Friday’s 9.700 peak. That would open a path up to around 10.150. _______ UPDATE: Silver has easily exceeded our benchmark this morning and now looks bound for at least 11.005 over the near term. Any intervening pullback to the midpoint, 10.070, should be regarded as a buying opportunity — presumably a tightly stopped one initiated at an abcd midpoint or ‘d’ target.
