Silver has made better headway than Gold toward the nearest important rally objective, in this case 93.850. However, the move has still been a drain on our patience and more than a little stressful since, like gold, the futures will always be subject to one of those nasty downdrafts that inflicts all bull markets during lengthy consolidations. The mildly good news from last week is that buyers popped this vehicle through an ‘external’ peak at 82.760 recorded in mid-March on the way down. The move was impulsive and implies that the next leg higher will achieve the secondary Hidden Pivot (p2) at 85.690.
SIK26 – May Silver (Last:81.842)