Like Gold, Silver needs only a moderate rally to turn robustly impulsive on the 480-minute chart. The high so far Sunday night has been 35.975 — 53 cents shy of the closest important peak. Evidence that buyers are up to the task can be found in last Thursday’s bullish reversal from above the 33.610 midpoint support shown in the chart. That downtrend could have continued to as low as 32.140 (aka ‘D’), but in this case sellers turned tail three cents above the midpoint, opening a path that went on to exceed an internal peak at 35.080. If the May contract does break out strongly here, you can use 38.605 as a minimum upside objective for the near term..
