The March Silver contract has been trending higher since the bounce from the November lows, continuing to hold trendline support achieving higher lows. There is a great seasonal in play, as the March Silver contract has traded higher 14/15 years from December 20th-February 18th. This does not guarantee the market will perform this year, but Silver is already up over 3.5% on today’s session, and the chart is looking great for upside potential if it can breakout above the December 13th highs. The downside risk comes if we break below the trendline support, and then look to re-test the gap from November 30th.