I characterized last week’s price action as ‘mildly discouraging’ in the chart (see inset), but compared to gold’s stellar performance, Silver’s dirge was not merely discouraging, but pathetic. The rally stalled almost precisely at p=24.76 of a pattern that projects to 27.34, and I can offer no assurances that the resistance will get pulped next week. Whatever happens, I doubt that gold can go much higher without dragging silver along. Please note that a pullback to the green line (x=23.47) would trigger an appealing mechanical’ buy, stop 22.18.