The silver charts for various timeframes give us numerous bullish price targets on the eve of the NFP report. The pivot at 43.060 which we discussed earlier this week remains active, and several others are identified in the attached chart. An energetically bullish reaction to the employment data should get through the 42.430 midpoint easily enough, but the pivots at 43.060 and 43.540 might reward a short-sale. Above there, the futures would take aim at the important prior high of 44.295. In the event of an initial sell-off, the same advice as was given in today’s gold tout applies to silver. (Posted by Doug “harry” McLagan) _______ UPDATE (11:50am EDT): Like the gold market, silver was energetically bullish both before and after the employment report. The 42.430 pivot turned out to be scalpable, and the futures peaked in between the 43.060 and 43.540 levels that we mentioned last night.
