The market is now in a highly overbought condition, which would lead me to believe that some short-term weakness may ensue.

With the dollar weakness, we may have seen a great buying opportunity develop in recent sessions.

Silver, which got butchered because the slope of the daily chart began resembling the angle of a shuttle launch, seems to have found support as it approached the April lows.

Silver seems to have already entered a period of consolidation, which could lead to silver breaking out to new highs as gold continues to trade within its recent range.

For now, it looks like the bulls may have caught their breath after last week's sucker punch and they just may have the ability to get silver back on track.

May copper seems to have its sights set on the $3 mark.