March Silver (12.345)

9092The next pop could take March Silver as high as 13.160, but we should want to see the futures close above 12.650 before we start counting our chickens. Night owls looking to bottom-fish on-the-cheap should consider doing so using the pattern shown in the chart. It has a 12.335 midpoint that is worth three ticks on the stop-loss, and a 12.280 target worth risking the same.