The silver market is beginning to show common patterns of the metals market: slow bottoming, gradual recovery, and narrowing consolidation. The rise from $72 to $96 is the first bullish impulse.

My bullish cup and handle pattern looks like this: an arc bottom around $80-$82; a gradual rebound to resistance levels; formation of higher lows; if the bulls hold above $82, the pattern will remain intact.

The key resistance level is in the $95/$96 area, where there was a previous rebound with a wick, and liquidity pools, psychological thresholds, and institutional supply are concentrated. The market tends to revisit these areas repeatedly to relieve order pressure.

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