SIK23 – May Silver (Last:25.96)

Buyers easily handled ‘hidden’ resistance last week at p2=24.57, implying the futures remain on track for a run-up to at least 26.20. [Changed to correct a rickism that gave the target initially as 26.01.] This target is slightly lower than the one previously given, since it’s derived from a one-off ‘A’ different from the original. That was a ‘Pontiac/Oldsmobile’ middle-of-the-roader that I’ve usually advised shunning, since it often misses final highs and lows. The rally has been too steep to enable ‘mechanical’ entries, but a drop to the red line would signal one nonetheless, stop 21.85. _______ UPDATE (Apr 13, 6:09 p.m.): Buyers pushed the May futures to within 0.3% of the 26.20 target, effectively fulfilling it. A pullback is likely but not certain. The next important resistance is an external peak at 27.22 from March 8, 2022, and its breach would refresh the bullish energy of the long-term charts.