I’d said the bad guys would be hard-pressed to hold Silver down, but their task grew doubly difficult yesterday when the futures exceeded a key high at 20.800 recorded back in July of 2008.  Doubters should take a gander at the weekly chart (inset) to see how a powerful rally can create irresistible impulse legs with each new thrust. This latest one has effectively revitalized the long-term bull and inured it to any damage shy of a pullback to below $14 (!).  The rally projects most immediately to 22.505, a number that was mentioned in the chat room the other day by more than one source.  The midpoint pivot with which is it is associated is 19.920, and we should therefore regard any pullback to that number as a gift to those needing to play catch-up..