SIZ11 – December Silver (Last:31.795)

December Silver (SIZ11) price chart with targetsThe over-under thresholds can stand as drawn here yesterday (see 10/17 archive posting for chart and details), but more immediately, we might focus on the corrective pattern shown, since it has the potential to drop a low-risk “buy” into our lap. That would occur at the 30.785 Hidden Pivot support shown. ‘Camouflage’ will be essential here, though, since the target is closely coincident with a structural support at 30.710 from October 7 that is all but certain to draw the rabble. _______ UPDATE (9:16 a.m. EDT): December Silver got whacked well beyond our target, creating a quite-bearish impulse leg on the hourly chart in the process. The so-far 73-cent bounce must be presumed to be setting up a D-C follow-through leg to the downside, but bulls would earn the benefit of the doubt if they can turn this disconcerting price action into “dueling” impulse legs with an upthrust, by tomorrow, that exceeds a micro-peak 31.725.