Yesterday’s rally missed creating a fresh impulse leg on the daily chart by just three cents, but bulls could easily remedy the shortfall soon with a push exceeding the 34.520 peak recorded on February 8. Notice that it would require little more than that to take on three more peaks from November, above which the bad guys would have no pockets of supply to help them suppress Silver’s increasingly natural buoyancy. More immediately, a Hidden Pivot at 35.635 beckons — an odds-on shot now with the p midpoint at 34.140 midpoint already breached. _______ UPDATE (2:52 p.m. EST): Today’s very powerful, $1.35 rally came within 2.5 cents of the target flagged above, so it should be considered fulfilled. A 27-cent pullback has ensued. The slight undershoot of 35.635 suggests some consolidation — perhaps a day’s worth — will be needed to set up the next big push. If oil keeps rocketing higher, however, Silver will likely be pounding higher sooner.
