SIU10 – September Silver (Last:18.140)

September Silver (SIU10) price chart with targetsSeptember Silver has two promising uptrends pushing it at the moment: a big one begun from 17.230 on June 6, and a lesser one begun from 17.480 (a one-off low) on July 29.  Both are shown in the accompanying chart. The first has already triggered a “buy” and slightly exceeded its 18.460 midpoint resistance, which is bullish. The second has also triggered (yesterday, at 18.100) but has yet to test midpoint resistance at 18.405. Let’s be conservative and stipulate that the futures close above that last number before we infer that liftoff is in progress.  A two-day close above the 18.460 midpoint of the larger pattern would imply SI is unstoppable and bound for at least 19.595.