Silver Futures A Buy on the Next Pullback

Silver has made a strong move off a longer term double bottom around $14 going back to last summer. The move above and subsequent retest of $16 confirms this, and now price is heading higher yet again. In the shorter term, a pullback to $17-$17.50 looks like a layup BTFD scenario. Should price get into the $20-$21 range with acceptance, a squeeze to $25-$26 looks quite likely. As the world's central banks embark on easing monetary policy, traditional inflation hedges like silver should receive a consistent bid.