In the chat room Thursday morning, our friend and astute metals trader Andy Maguire weighed in with the observation that J.P. Morgan, among others, was covering Silver shorts near last week’s lows, implying little downside risk from here.  Assuming the March contract follows the same trajectory today as April Gold, we should look for a rally to as high as 16.070.  Pivoteers should look for a camouflaged buying opportunity if the futures dip to 15.570 before taking off. That is the Hidden Pivot midpoint associated with the rally target. The futures have already been down there once, bouncing from 15.565, a single tick from the support, so if they return to the scene, odds won’t be quite as favorable for buyers the second time. _____ UPDATE:  Like Gold, Silver was having an inside day as of 11 a.m.  The futures had retreated sharply after marginally exceeding Thursday’s intraday high, but bears were not having much success trying to take out yesterday’s 15.175 low. ______ FURTHER UPDATE (12:30 p.m. EST, Feb 16): Silver has reached and surpassed the 16.070 target, thus completing the pattern.