If the futures can break decisively above the 69.215 midpoint Hidden Pivot resistance shown, that would provide solid evidence of bulls’ ability to keep pushing all the way up to the 83.43 target. This chart is not drawn exactly like the one in gold (see above) because silver has underperformed relative to gold since June. However, it does focus on resistance at ‘p’ as the key to determining trend strength with confidence. We should eventually hope to see enough strength to deny us any easy opportunities to belatedly buy this vehicle ‘mechanically on a one-level pullback. Let’s watch closely to see how things unfold, since a test of ‘p’ in the week ahead appears likely.
SIU26 – Sep Silver (Last:65.11)
