Silver looks to have started an impulse wave to the upside. Wave 2 was a 61.8% retracement of wave 1, and current the price is staying above the 50 day MA. Breaks above 40 in the SLV should be confirmation that higher prices are to come. Target 1 sits around 44.30 and target 2 is at 50 on the SLV. Look for price to stay contained within the channel lines for most of the ride up.
The MACD is looking like it will reject the 0 level and move higher. Overall silver is looking solid for more analysis on silver check out this video.
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