Just a little more oomph is needed to generate an impulse leg worthy of the name on December Silver’s 240-minute chart. As you can see, the apex of yesterday’s moon shot narrowly missed exceeding a key ‘external’ peak at 23.265. In the meantime, the ABC overlay shows potential to as high as 27.2450 in the weeks ahead. The midpoint resistance at 24.233 will pose a daunting test along the way, but in the meantime, traders will need to pay close attention to the relatively few unspent ‘external’ peaks that will be available to us for purposes of lowering entry risk on ‘camouflage’ trades.
