SIZ10 – December Silver (Last:19.92)

On Tuesday December Silver popped its head above $20 per ounce for the first time in two years.  Subsequent gyrations gave rise to a pattern whose midpoint was hit precisely and whose “D” target of 20.14 is next on the bullish agenda.  We are letting the midpoint hit determine our starting point for the pattern, but the alternatives could put the target as high as 20.205.  A print of 20.22 would signal that silver is ready to gun for its next big target at 20.45, which we described (and depicted) in our September 1 tout.  (Posted by Doug McLagan)