SIH11 – March Silver (Last:28.885)

March Silver (SIH11) price chart with targetsI’ve drilled down to the 15-minute chart to display a nubbin of resistance (a.k.a. look-to-the-left-peak) along the otherwise cragless wall of Tuesday’s decline. It lies at 29.380, and we should ask that a rally exceed it before sounding the all-clear (better make that the “somewhat clear,” since we’re using a quite subtle directional indicator here).  Notice that there are a few peaks from Thursday’s session to allow night owls to test the water, bottom-fishing with relatively little risk.