The correction off yesterday’s highs was struggling to reach a 35.465 pivot around 10 p.m., and, as is the case with gold, the longer it takes to reach, the less compelling the target will become as a place to try bottom-fishing. That’s assuming it will be reached at all; but if not and the futures thrust higher, the best place to look for a minor pullback and subsequent entry signal would come following a breach, by a tick or two, of the look-to-the-left peak shown. _____ UPDATE (3:29 p.m. EST): Silver’s pullback was a little milder than Gold’s. Whereas the latter reached a ‘d’ correction target and then some, the former turned higher without having gotten to a corresponding target. Now, a spirited recovery is under way following the day’s $1 up-and-down seesaw, and it is bringing into focus a rally pattern with a midpoint resistance at 36.125 (5-min, A=35.51 at 1:20 a.m.) that has been breached as of this moment. A close above it would augur a quick move to its ‘D’ sibling, 36.645.
