SIU12 – September Silver (Last:27.800)

September Silver is flirting with a potent, bullish trigger in the form of the 28.080 midpoint pivot of the small pattern shown.  A near-miss is as good as a mile, and so we’ll stipulate that the futures must close above it before we infer that the rally will complete to 28.470, its ‘D’ sibling. The larger ABC pattern yields a somewhat higher target at 28.640, and although the 27.760 midpoint with which it is associated has already been exceeded on a closing basis, the heaviness of this vehicle since then has placed the burden of proof on bulls for the time being. You can learn how to do this stuff yourself — and more easily than you might imagine.  Click here for a free trial subscription.