Silver has shown somewhat more pluck than gold lately. Although the bulls’ safety margin for more weakness has eroded, it is not quite down to the nubbins, as is the case with February Gold. As such, the benefit of the doubt we might accord the good guys is somewhat more elastic than that which obtains for gold bugs. Assuming the 19.280 point ‘C’ low holds, the daily chart would turn quite bullish on a print at 20.925. That would exceed an external peak ‘along the wall’, generating the most impressive bullish impulse leg we’ve seen since last August.
