Silver breaking back to the upside it appears.

Looking at the SLV chart, one can see that both RSI and Stochs exhibited bullish divergences versus price going into last week's lows. Following 4 days of tight flatlining action, price has moved above $35 today with the MACD now curling up towards a potential bullish cross in the next few days. That would serve as confirmation. Not really looking for or anticipating a resumption of a major bull in Silver at this point, just a tradable rally from the deeply oversold plunge that started the month.

Targeting $38 initially, which is where the 50dma roughly coincides with the 38% fib retracement level. $40 and $42 are the next targets after that (50 and 62% retracement levels).