SIZ10 – December Silver (Last:26.220)

December Silver (SIZ10) price chart with targetsYesterday’s whirling-Dervish-of-a-ride left intact the pattern I’d used to project a minimum upside target at 25.440, or possibly 26.225 if any higher. The action was so violent that it will likely have left bulls and bears alike pretty frazzled.  In theory, this suggests that we might benefit from a little more boldness than usual in searching out ‘camo’ entry opportunities. Unlike in gold, the futures have created numerous look-to-the-left peaks that you can use for a handhold on, for one, the three-minute chart (see inset). _____  UPDATE (4:03 p.m. EDT): Silver’s carnivorous rampage today has exceeded my wildly bullish forecast, pushing the December contract up by $1.84 to beat the 26.225 projection by a nickel.