Silver looks stronger than gold here, having generated an impulsive thrust on the hourly chart during holiday-hours trading on Monday. The move failed to take out the key peak at 24.485 recorded last Thursday, however, and bulls should not breathe easy until such time as that has occurred. A b-c pullback from 2-4 ticks above it could yield a ‘camo’ buying opportunity, but it could require a deft touch, since the peak is obviously perceived as a breakout point by many traders. Once the futures are airborne you could look for them to hit 25.270 if they get past that number’s midpoint sibling, 24.615.
