March Silver’s best day last week still fell shy of a technically important ‘external’ peak at 28.01 recorded back in mid-September. That means the larger rally begun nearly a month ago from 91.60 has been for naught, at least so far, since it failed to generate an impulse leg on the daily chart. It would be premature to write off this possibility, but even if it happens the result would be less bullish than if buyers had exceeded the benchmark on the first try. There’s no urgency about trying to get aboard in the meantime, since it will take more of a correction to ease this task when the time comes.
$SIH21 – March Silver (Last:25.908)