Silver Nears 13.865 Resistance

The rally from the mid-Sep 10.47 low pushed above the early sep 13.27 resistance and is now within striking distance of yet another obstacle at 13.865. It's a Fibonacci retracement, marking .764 of the 15.22 to 9.48 sharp downswing.

Secondary resistance is not far off from 14.09 to 14.26, the May 17 reaction high and the point where the rise from 10.47 would equal the 9.48-13.27 rise, respectively.

Daily momentum conditions are far from stellar, a sign that the secondary resistance will likely prove a tough obstacle. But only a break of congestive support in the 12.61 to 12.42 area would confirm a reversal of the short-term bull trend from 10.47.

While above 12.42, keep focus on 13.865 and then the 14.09 to 14.26 resistance band.