Silver’s pluck has matched Gold’s Sunday night, resulting in a promising bullish impulse leg on the hourly chart. It may be a little too promising, however, especially for those who are frustrated over having missed buying near Friday’s bargain-basement lows. Under the circumstances, the advice I offered to gold traders — wait for a second point C=22.020 to form before you dive in — applies. However, skillful camouflageurs can test the water cautiously if the 22.233 entry trigger associated with the existing, tentative c=22.020 is hit. (Unlike in December Gold, that has yet to occur in this vehicle.) _______ UPDATE (September 17): Yesterday’s choppy selloff did little technical damage to the still-bullish hourly chart (see inset), but buyers will need to exercise extra caution getting aboard, since new point ‘C’ lows have been turning up with vexatious frequency. Camouflageurs should note that, as of around 11:40 p.m. EDT Monday, the futures were on a buy signal from 21.898. Look for your entry trigger on charts of 1-minute degree, since there were some potentially attractive set-ups developing therein shortly before midnight. The relevant ‘external’ peaks lay, respectively, at 21.980 (10:49 p.m.) and 21.970.
