SIU11 – September Silver (Last:38.795)

September Silver (SIU11) price chart with targetsShort-term, Silver has a couple of  things going for it: 1) the recent low at 37.025 fell well shy of its Hidden Pivot target, and 2) the reversal since then has ‘gone impulsive’ on the hourly chart.  The relevant pattern projects to 40.180, and although a move to that number hardly looks like done deal shortly before 2 a.m. EDT, the fact that the 30.065 midpoint has already been exceeded by a nickel will weigh in bulls’ favor.