Silver is regrouping below Wednesday’s rally high, perhaps readying a bid for our 20.45 target.  On Wednesday, December Silver rallied to a high of 20.18, encountering resistance in the range we noted in yesterday’s tout.  That resistance area will have been surmounted when a trade goes off at 20.22.  By contrast, silver would have to decline below its recent lows of 19.585, 19.505, and 19.32 in order to make 20.18 look like an important high.  The uptrend is intact, and its next objectives are the “D” target at 20.45 and the prior high of 20.80 from the summer of 2008.  (Posted by Doug McLagan)