SIU10 – September Silver (Last:17.740)

September Silver (SIU10) price chart with targetsSilver appears to have bounced from a too-obvious place yesterday, a penny above the previous day’s spike low. We’ll give this evening’s moderate rally the benefit of the doubt nonetheless, and infer the possibility of more upside over the near term to 17.880 — or possibly to 17.975 if any higher. A negative offset, however, is that tonight’s thrust failed by a tick to generate an impulse leg that would have provided “camouflage” for a long entry.