SIL – INTERMEDIATE TIMEFRAME ANALYSIS
Silver decisively broke higher suggesting that the intermediate pivot is in place. The daily chart is very positive and the contract looks likely to move towards $38. The silver miners are also in very positive conditions. The chart has positive money flow patterns and key levels flipping into support followed by explosive moves higher. It seems reasonable for SIL to move to the extreme of the prior supply zone, which will likely be followed by a period of consolidation and then the resumption of the bull market.