Silver did everything bulls might have hoped for yesterday — did those things so well, in fact, that gold may find silver’s upward pull magnetic over the near term. While gold narrowly missed creating a bullish impulse leg on the hourly chart, silver created a robust one with the potential to reach 27.780 over the near term. Please note as well that there is an important midpoint resistance between here and there at 27.685, and if it’s easily brushed aside, bulls should take strong encouragement. A close above it would put in play the 30.385 target of the large pattern shown in the chart.
