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Feisty Silver Bulls Face a Key Hurdle

Rick Ackerman
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Thursday, June 12th

SilverSeek.com Comment Wire

The futures are looking robust for the first time in a long while. Yesterday’s rally generated yet another bullish impulse leg on the daily chart by surpassing an external peak at 19.525 recorded on May 23. A rally that is able to exceed at least two prior peaks with each new thrust, as Silver has been doing, is demonstrating that it is raring to go. If this is indeed so, we should see a surge today that surpasses the distinctive external peak at 19.825 (see inset) from May 22. Night owls looking to climb aboard should look to do so on a resumption of the rally following a shallow pullback of perhaps 15 cents from Thursday’s 19.565 high.

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