While gold teeters on the edge of a potentially worse-than-minor pullback, September Silver has already crossed the threshold and nearly reached the ‘d’ target of an abcd correction. It lies at exactly 38.000, just 18 cents beneath the so-far low of the selloff from yesterday’s high at 39.395. A penny could make a difference here, since there’s an external low at 38.010 that would be exceeded if the target is reached. That would create a bearish impulse leg of minor degree but still sufficient to warrant our attention and concern.
