The December contract exceeded my minimum expectation last week at 21.50, so I’ve selected a more ambitious rally pattern with a 22.40 target to keep us a step ahead of the herd if Silver continues to rise as expected. A pullback to the green line (x=21.05) would trigger a ‘mechanical’ buy, but the balky A-B leg argues against trying to get long with a conventional bid and a 20.59 stop-loss. Camouflage may be the ticket, so stay tuned to that chat room if you’re interested. _______ UPDATE (Nov 28, 10:03 p.m.): The futures took a $1200 bounce from within a half-cent of the green line, enabling at least one subscriber to report a quick profit in the chat room. Silver’s subsequent relapse has muddied the immediate picture and left me with nothing exciting to recommend for today. My ‘voodoo number’ for a possible turn would be 20.98 — worth risking no more than 2-3 cents on a stop. _______ UPDATE (Nov 30, 7:12 p.m.): A bullish pattern going back to early November would be superseded by a larger one if this rally decisively exceeds 22.73, basis the March contract, or closes above it for two consecutive days. The new target, a clear and compelling Hidden Pivot resistance, would be at 24.325, shown in this chart.
SIH23 – March Silver (Last:22.54)
