SIZ18 – December Silver (Last:14.220)

I posted a worst-case target of 9.35 here earlier, but because things might not turn out that bad, I am proffering an alternative at 13.527 that allows for a less dire outcome. However, that is my minimum downside projection for now, and regardless of what your long-term strategy is for silver, I would not recommend buying any more of it until 13.527 is reached. For purposes of bottom-fishing, you can expect a significant bounce from that number, given the precise bounce in December 2017 from p=16.024._______ UPDATE (Sep 12, 6:33 p.m.): I’ll start believing this rally, sort of, if and when it thrusts above the 14.590 peak shown. If it can do so without much correcting or zig-zagging between here and there, that would shorten the odds that it’s for real. ______ UPDATE (Sep 13, 4:45 p.m.):  Today’s nasty reversal was not what I had in mind when I stipulated that the futures exceed 14.590 without much ado. But because the upthrust generated a fresh impulse leg on the hourly chart before relapsing, I’ll give bulls the benefit of the doubt for the time being.