Back by (inexplicable) request today is Comex Silver. It has been in a really tedious dirge for a month (see chart), and so you can probably understand why I haven’t had much to say about it. (Tracking gold’s seemingly endless wallow has been taxing enough.) That said, I’ll mention a 27.815 target that can be used a minimum downside objective for the near term. Alternatively, if bulls are going to regain their mojo, it’ll take a pop above the external peak at 29.280. A ‘b-c’ pullback from 2-3 ticks above this number could yield the best buying opportunity we’ve seen in this vehicle in a while. _______ UPDATE (7:56 p.m. EDT): Yesterday’s blast easily vaulted 29.280, setting up an appealing camouflage opportunity. Traders should use the pattern shown to get aboard once a point C is in. _______ UPDATE (March 25): As we might have expected, Silver has settled back into the shallow rut that has asphxiated price movement for more than a month. I am dropping coverage of this dog until it either break down or impulses above the 29.670 ‘external’ peak recorded on February 19.
