SIN11 – July Silver (Last:35.900)

July Silver (SIN11) price chart with targetsAll of last week’s gratuitous ups and downs occurred beneath Monday’s peaks, suggesting buyers are in no great rush to forge higher.  That said, there was a bullish pattern on the five-minute chart that projected to 36.475 over the very term — a 57-cent rally above Friday’s settlement. The midpoint resistance associated with that number lies at 35.980, so any upside breach of more than 2-3 ticks will be a positive sign; moreover, a move to the target would re-energize the bull trend on the lesser intraday charts, although not quite on the hourly.