SIU09 – Comex September Silver (Last:14.070)

I’ve just mentioned in the chat room that the 13.805 target is still theoretically valid but unappealing as a place to try bottom-fishing, since the bounce from a somewhat higher low at 13.820 has gone on for so long. The futures would need to keep going all the way up to 15.550 to make a statement, but that appears unlikely because of the feebleness of the bounce so far. A bit of unexpected news could change that in an instant, but without it the futures appear to be headed lower — presumably to test a moderately important low at 13.370 recorded on July 31.