Silver

Here is an hourly chart of pit trading in May silver futures.

I believe that the market is on its way to 1098 from which point a drop of $2.00 or so is likely.

I have labeled several swings on the way up from point a. The main this to observe is that we see a clearly defined sequence of higher lows. The second fact that interests me is that the swing up from f to g exceeded the previous swing up d to e in both price and time. The subsequent correction g to h was shorter in price and time than the preceeding corretion e to f. This tells me that the market is gathering strength. There is every reason to believe that the 1098 level will be reached soon.