$SLV showing some life

Interesting move on $SLV today, pushing through 54.14 and holding so far. We saw a solid bounce off the 53.345 area which looks like short-term support now. My current read is we could see a test of 54.775, perhaps even higher if it can clear that convincingly.

Risk to this scenario is a retrace back below 53.345. That would invalidate the current upward momentum for me and suggest we're still range-bound, or worse, heading lower.