Silver December Silver (10.705)

The futures have been trying to get traction off a 10.430 midpoint pivot that comes from the weekly chart, but because they’ve already breached it by 12 cents, the burden of proof remains with bulls. That would require the futures to rally through the range 11.670-12.255 without pausing for breath, as noted here yesterday. More immediately, a mildly bearish target at 9.890 that also was mentioned here yesterday remains my minimum downside objective for the near term. You can bottom-fish there at your discretion.