SIU11 – September Silver (Last:43.490)

September Silver (SIU11) price chart with targetsSilver got mired in a correction yesterday, evidently grown timid about following Gold’s aggressive lead. Even so, the choppy action penetrated a 43.795 midpoint resistance to the upside, presumably clearing the way for an easy shot at its ‘D’ sibling, 45.110.  Night owls should consider bottom-fishing at the corrective midpoint shown, but please note that a downthrust that gets past the two labeled lows would create a bearish impulse leg of lesser degree (and also another possible buying opportunity at the ‘p’ midpoint or ‘d’ target of the pattern).