SIH24 – February Silver (Last:23.315)

Silver futures fared worse than their gold counterpart last week, leaving a ‘mechanical’ buy triggered on December 29 hanging by a thread. The weekly low at 22.888 came within a dime of stopping out the trade, which I did not recommend. There is a voodoo number not far below the pattern’s point ‘C’ low where bottom-fishing could be attempted with relatively little risk, but we’ll nature take its course before we hatch any bullish plans.