SIZ10 – December Silver (Last:26.800)

December Silver (SIZ10) price chart with targetsIt’s Sunday evening and Gold is down five bucks at the moment, but Silver — ever feisty and up six cents — isn’t buying it.  Perhaps Bank of England is the seller of gold tonight, seeing if it’s still got its old touch for unloading what few ingots remain in inventory at the worst possible prices?  Concerning December Silver’s immediate prospects, we should use a Hidden Pivot target at 28.595 for now, predicated on a close above its sibling midpoint resistance at 27.235 — 22 cents above the recent, recovery-record high.  The pitch of the implied rally looks too steep to sustain, at least to me, but it’s possible nonetheless that buyers will arrive on the scene Monday morning gung-ho to take no prisoners.  Whatever happens, we should pay close attention to the price action at 27.235, since an obvious stall there will affirm the validity of the higher target.