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The silver markets
rose slightly during the sessions over the past week, but as you can
see that $22 level is an area that has caused resistance previously. We
need to get above the $22 level in order to start going long but we
think ultimately this market wants to close the gap that has resistance
of the $27 handle. Pullbacks at this point time should be nice buying
opportunities, and with that being the case we feel that the market is
essentially “buy only” at this point in time.