December Silver’s climb has been too strong to afford us a ‘mechanical’ buying opportunity on the daily chart, although there have been less risky plays possible in smaller time frames. In any event, it looks like a very good bet to achieve the 26.48 target shown. That would refresh the bullish impulsiveness of the daily chart, clearing the way for a shot at May’s key high at 28.92. A pullback to p=23.95 would trip a ‘mechanical’ buy, stop 23.10. That’s $4200 of entry risk per contract, so the trade should be attempted only if you are familiar with ‘camouflage’ set-ups or have a method of your own to drastically limit risk. _______ UPDATE (Nov 16, 5:15 p.m. ET): December Silver’s nitwit dive tripped a ‘mechanical’ buy identical to the one in gold (see my tout) at x=24.89, stop 24.59. Let’s paper-trade this one together unless you’ve got ‘camo’ chops. _______ UPDATE (Nov 17, 1:22 p.m.): The paper trade crushed it, producing an overnight gain of as much as $7400 on four contracts.
SIZ21 – December Silver (Last:25.17)