SIH11 – March Silver (Last:26.960)

March Silver (SIH11) price chart with targetsAll of this week’s bottoming action has taken place just above some key lows recorded in November, so I am hesitant to infer that lower prices — meaning beneath Tuesday’s 26.540 bottom — are certain.  If the  futures do fall, however, they would probe possible Hidden Pivot support most immediately at 26.385, the ‘d’ target of the minor pattern shown in the chart. Below it, especially on a closing basis, there would be jeopardy to as low as 24.485. Alternatively, the futures would need to pop today to 28.575 seriously challenge bears.