The rally begun on September 29 from 21.41 is bound for a minimum 26.48, a Hidden Pivot resistance that is shown in the inset. I’ve used a ‘reverse’ pattern to calculate the target, and it is comely enough to be considered reliable for all purposes, including nailing a short-able top and keeping us confidently bullish in the meantime. Most immediately, we could use a pullback to p=23.94 to get long ‘mechanically’, stop 23.09. If this opportunity should arise and you are interested, nudge me in the chat room and I may be able to provide a set-up that would drastically reduce the implied entry risk of around $4000 per contract. _____ UPDATE (Nov 23, 6:04 p.m. ET): The trade triggered off our ‘workhorse pattern’, but because no one mentioned it I’ll track this one on paper. The first partial profit should be taken at p2=25.10, o-c-o with a stop-loss on the entire position at 23.09.
SIZ21 – December Silver (Last:23.66)