SIZ23 – December Silver (Last:23.504)

Silver’s rally last week wasn’t quite as impressive as gold’s, but it did manage to somewhat exceed the 23.70 target of the middling ‘reverse pattern’ we’d been using to stay on the right side of the trend. The next significant target is 27.18, a Hidden Pivot derived from a conventional pattern on the daily chart where A=20.61 on March 8. However, because we can assume silver will not ultimately lag far behind gold, I’ll air a 28.15 target that is shown in the inset chart.  Critical resistance, and possible confirmation of the pattern, will come at p=24.83, my minimum upside target.