SIZ10 – December Silver (Last:27.735)

December Silver (SIZ10) price chart with targetsI’d suggested keeping an eye on a midpoint Hidden Pivot resistance at 27.235, but the futures turned it into chop suey yesterday in a trice.  That means getting to the ‘D’ target at 28.590 (adjusted downward by a tick, by the way) associated with that number shouldn’t pose much of a problem for bulls.  Traders, as well as long-term bulls looking for a logical place to adjust,  should gear for a pullback from 28.400, or from 28.590 if the lower number is exceeded by more than two cents.  How much of a pullback?  That’s hard to say, although the magical number $30 could be just a day or two away if 28.590 fails to slow the buying rampage for more than an hour or two.