The recent inflation reading of 7% had silver bulls thinking that the market is heading to a higher price in coming sessions. Attached is a rarely seen quarterly silver chart outlining this possibility. You will see there is a rather bullish structure appearing on the chart. The market is triggering a reversal up so, long as we hold above $21.00, a close above $23.50 will likely entice a technical buy. Any corrective pullback will probably be seen as a buy interest rather than sell. Any dip below 21.00 will signal deflation risk, which is least likely but not impossible.
To learn more about inflation, please take a look at our newly updated Inflation Special Report. If there is anything else I can help you with today, and please let me know.