SIH11 – March Silver (Last:28.195)

March Silver (SIH11) price chart with targetsSilver continues to look feistier on the intraday charts than gold, having generated an impulsive leg with sufficient thrust to reach 29.645 over the near term.  The midpoint resistance lies at 28.585, somewhat above Monday’s peaks, so bulls will have their work cut out for them overnight into Tuesday morning.  Night owls can use a midpoint support at 27.975 to try to get long, stop 27.970.  As of around 11 p.m. EST, the pattern that shows this set-up best leaps to the eye from the 15-minute chart, where A=28.370.