Silver is surging. After a flash crash below 22 which is major support that we talked about before, by getting one closed bar below it, silver, finished the bear trap and return to the above 22 zones. Holding above 22 and breaking the major resistance was the real game-changer for silver. Exactly the breakout day, the gold/silver ratio breaks its uptrend, putting silver in an advantageous position against the gold.
Now the price surging to the next key resistance, 25. This resistance is the halfway point of the latest lower top. If broken, it is easy to say that the lower tops are over and the medium-term negative outlook of silver is at an end. Of course, to test this resistance, silver must hold above the %38.2 Fibonacci level and continue its shorter-term uptrend first.
