I haven’t mentioned a target at 41.275 before, so let me do so now. Looking at the chart, the eye wants the C-D phase of this rally to begin soon, lest it start looking weak relative to the impulsive A-B upthrust begun on March 17. The Hidden Pivot midpoint of the pattern is 38.850, so that will be an important number to watch. At that point, the futures will be trading well above March 24’s key high at 38.180, so the bad guys won’t have much to lean on. _______ UPDATE (10:37 a.m. EDT): Silver is being dragged lower this morning by a shakedown in Gold, but it is not going docilely. In fact, the bad guys have so far been unable to pull the futures down to a 37.105 midpoint support, let alone its ‘d’ sibling at 36.235. Let the bastards keep trying, since any weakness should be viewed as the buying opportunity it is.
