Silver - wait for break of $26.20

Silver has now broken above its multimonth descending trendline and has cleared the 20-day and 20-week MA which should now act as support. Silver failed to close above its November highs. A break with momentum through $26.20 will provide confirmation that Silver is heading for $30 in an impulse move. A failure to clear $26.20 and it's likely that Silver will retest its descending trendline at $24.20.