The long-term outlook for silver is very bullish, with the three-year pattern projecting to 73.720. The sharp decline in May this year has produced several patterns which have been confirmed and then broken without a single midpoint being reached. The latest in this series of false alarms has a midpoint of 35.700 and a D target of 27.105. With silver trading just under $41, nearby levels to watch include 42.430 and 39.110. These two are midpoint pivots where tradeable reversals might be expected. (Posted by Doug “harry” McLagan)
