SIK10 – May Silver (Last:16.510)

Silver looks well capable of dragging gold higher over the near term, since it did what gold failed to do on Friday, impaling several resistance peaks on the hourly chart without trepidation.  Most immediately, the rally points to at least 16.695, subject to a test of support at 16.390, a midpoint resistance that is now support. Once the May futures have closed above 16.695, they’d become an even-odds bet to reach 16.985 with 4-6 days.