SIH11 – March Silver (Last:27.345)

The drag on Silver seems heavier tonight than on Gold, but in any event it would take a pop to at least 27.940, exceeding minor peak recorded yesterday on the way down, to encourage.  Barring that, the 27.285 downside target given here earlier will continue to serve as a minimum downside objective.  If it’s exceeded, there are two lesser patterns that could extend the decline to 27.215, or even to 26.860 if that last number is breached on a closing basis. The two targets can be located easily on the 5-minute chart, where A=27.935; or A=28.290.