SIZ10 – December Silver (Last:21.190)

December Silver has blown past a Hidden Pivot at 21.170, suggesting that the conquest of March 2008’s 22.055 peak will be easier than many might be imagining.  The thrust would keep the futures on-track to hit a very important target at 22.505 that I flagged here earlier. That’s still my minimum objective, and it is sufficiently compelling that any significant progress above it would imply Silver is on its way to the moon. Even as we allow our bullish imaginations to be stretched, however, we’ll need to monitor pullbacks on the lesser charts very closely, since we don’t want to get trapped in a downdraft. At present, the first (very) small hint of trouble would come on a print at 21.105, since it would create a bearish impulse leg on the 5-minute chart.