The silver markets initially fell during the week, but found the $21.40
level to be supportive enough to turn things back around and form a
hammer. We believe that the market will ultimately break above the $22
level, and if we get above there we go all the way to the $25 handle.
That area should be massively resistant though, because there is a gap
have that region. We do believe that we will test the $25 level, but
breaking above there is in fact going to be very difficult. Once we do
though, this market would suddenly become a “buy-and-hold” type of
market.
