SIH11 – March Silver (Last:33.595)

March Silver (SIH11) price chart with targetsNearly three weeks of extremely tedious sideways action argues against paying March Silver close heed right now. I would nonetheless call your attention to the “bastard” downtrend visible on the hourly chart.  It projects to 32.755, predicated on a decisive breach of the 33.395 midpoint. Yesterday’s 33.255 low may have been decisive enough, so be prepared for more weakness today. The target should not be considered precisely reliable for bottom-fishing, however, since the very sausage-y point ‘B’ makes the would-be impulse leg illegitimate. Camouflageurs can try it nonetheless, provided initial theoretical risk per contract is held to $60 or less.  Click here for details concerning the upcoming Hidden Pivot Webinar, where you can learn to do this stuff yourself.