After mucking around for three weeks, Silver’s intraday charts went mildly impulsive with Friday’s robust surge. However, bulls will have an excellent opportunity to shift into high gear when the new week begins, since it would require only a modest rally to blow past four prior peaks on the 480-minute chart (see inset). If and when this happens we can use the 32.280 midpoint resistance of the big pattern shown as a minimum upside objective for the next 2-3 weeks. More immediately, camouflage for belated buying will be difficult to come by following last week’s impressive finishing stroke. My suggestions is to leverage a b-c pullback from just above any of the several peaks discernible on the 30-minute chart going back to May 18.
