Silver close back above the 24.50 level is bullish.

The reason the silver market (XAGUSD) looks bullish near term is for 3 different reasons: 1) We closed above the descending trend line from August highs. 2) We closed above the 24.46 61.8 Fibonacci retracement 3) We invalidated a possible head and shoulder setup, therefore squeezing near term shorts. The 26.11 highs from early November look to be in play now.