Silver is constructive for bulls.

Surprisingly (or unsurprisingly, depending how you look at it) silver has held up very well for the bulls despite global equities at or near new highs for the year. One would think the precious metals would be hit, but despite conventional wisdom, the silver market is holding up remarkably well for now. Key trend line support is at the 17.20, and currently we are still trading above the 50dma and still in a very mature flag pattern which is holding the 61.8% Fibonacci retracement at 17.36. A move above the 18.00 level would be bullish near term.