March Silver (11.280)

The futures have earned a green light to at least 12.585, a Hidden Pivot, but they’ve been taking their sweet time getting there. There is a second bullish pattern at work as well, and it projects to 11.985. Because the sibling midpoint of this resistance, 11.155, has already been exceeded, odds early Tuesday morning appeared to favor the bulls. For night owls, the most appealing place to try bottom-fishing would be at 10.970, using a stop-loss as tight as three ticks. _______ UPDATE: Silver has climbed higher as expected, but the bounce came off a low at 10.920 that was five cents below where we’d looked to get in. The rally targets given above remain valid, although there is another at 11.950 that is equivalent to the one at 868.40 that I’ve identified in Gold.