Just an inch higher and September Silver will trip a theoretical buy signal at 16.663. This isn’t a trade we’ll want to jump on, however, since there’s a so-far mild undertow that eventually could pull the futures below $15 again, presumably to create a more durable bottom. The most logical place for this to occur would be at 14.165, the ‘d’ target of a corrective abc pattern originating back in September at 20.145. If buyers should instead push this vehicle above 17.745 first, I’d infer the danger was past._______ UPDATE (Jul 26, 6:53 p.m. EDT): Sep Silver tripped the theoretical ‘buy’ signal at 16.663 with more than a penny to spare. I’ll be more trusting of the rally, however, if it can exceed as early as Thursday the 16.915 peak shown. ________ UPDATE (Jul 30, 6:30 p.m.): The futures didn’t quite reach our 16.915 benchmark last week, but they were in good position nonetheless for a shot at it Sunday evening when futures trading resumes. The pattern shown suggests the September contract is likely to reach 17.035 straightaway if it can surmount the 16.770 midpoint resistance in the early going.________ UPDATE Aug 1, 5:47 p.m.): Despite the ordeal getting there, now in its third day, the very modest, 17.035 target remains viable._______ UPDATE (Aug 2, 11:59 p.m.): The futures relapsed after trapping bulls with an opening bar that hit 16.960. Newly fearful, they are not likely to show much interest in buying this brick until at falls at last a further 30 cents. Even then, we shouldn’t expect much enthusiasm.