March Silver remains on track to achieve the 34.67 target shown. The chart looks more bullish than gold’s, but we needn’t overly concern ourselves with this, since eventually they will get back in line. My gut feeling is that silver will turn less bullish to accomplish this rather than gold turning more bullish. That’s because the spike to $30 a few weeks ago brought on by youthful blusterers at Reddit quickly aborted when they ran out of juice and into reality. Even so, if the detumescence should continue down to the green line (25.11), the ‘mechanical’ buy I suggested there earlier would still be in force. The stop-loss would be at 21.92, just beneath the pattern’s point ‘C’ low, but we’d be shooting for just a one-level ride to p=28.30, rather than a rocket ride all the way to D=34.67. ______ UPDATE (Feb 18, 9:48 p.m. EST): Silver has turned ‘less bullish’ (see above), but it still looks better than gold. I’ve projected at least somewhat lower prices for the latter, but let’s see if the futures can hold above 25.935 top keep the short-term-bullish pattern projecting to 31.39 alive.
SIH21 – March Silver (Last:26.75)