Silver is ready for the next impulsive rally to take out strong resistance at 30.00. In the short term, we would like to see support at 23.30 act as a floor for the next move above minor resistance at 24.52 confirming that wave iii is in motion for a firm test of strong resistance at 30.00. Ultimately, strong resistance at 30.00 should be broken. Once it happens, the next major target will be the all-time high at 50.00.

Only an unexpected break below support at 22.68 will extend wave ii closer to support at 22.26, but such a continuation of wave ii should be short-lived.