Silver intraday chart looks a little better than gold’s, although a modest rally to the green line at 24.25 would still trip a ‘mechanical’ short (stop 25.70), as would a corresponding upthrust in gold. The short-term picture would brighten somewhat on a print at 24.77, since that would generate a health impulse leg on the hourly chart. The sooner this happens, if it does, the more bullish it would be. Failing that, the larger, bearish pattern (see inset) still indicates further slippage to p2=21.36, or possibly even D=19.92 if any lower.
SIZ20 – December Silver (Last:23.715)