Isn't That Just Like a Pop?

Silver is leading an impressive opening pop in the precious complex, complete with gold and the miners participating early on. However, as the broad market remains on shaky footing everyone seems to be on pins and needles to see if yet another pop will fade in commodities. 

First and foremost, oil is still having issues holding green. Now, I am not saying that the precious complex and oil are tied at the hip. But if oil swoons to a fresh leg lower it would be foolhardy not to think that miners will get swept up at least partially into that mess. 

That said, here is the problem with the silver metal ETF chart (SLV on the daily, below): There is NO problem! 

We have price above the 200-day moving average and absorbing Monday's harsh shakeout quite well, with volume (bottom pane) suggesting a mild consolidation. Price is tightly bull flagging, and if SLV can break and hold back over $21 I believe a new leg higher awaits the entire complex with silver being a natural leader. Miners like MUX AG HL WPM are worth a look long.