Yesterday’s plunge exceeded my 39.850 target by a dime — probably not enough for us to infer that more weakness is imminent. Even so, I’ll stipulate that December Silver push today above the two ‘external’ peaks shown before we break out the bubbly. Shortly before 10:30 p.m. EDT, the bounce from Monday’s lows looked capable of reaching 41.625. Any higher would of course be an encouraging sign, but first we’ll need to see a breakout above the 41.075 midpoint resistance associated with that number. Camouflageurs should notice on the 5-minute chart that a print at that number would create a bullish impulse leg by exceeding an external peak at 40.995 made Monday on the way down.
