Bears have been pounding on p=63.43. a Hidden Pivot midpoint support for more than three weeks with little success. It could give way, sending the futures down to as low as p2=59.12, but until that happens we’ll give bulls the benefit of the doubt. They would clinch their case with a two-day close above 67.05, a midpoint resistance associated with a reverse pattern that began on August 18 at 63.20. It associated with a d target at 71.35. Silver traders should stay tuned to the chat room, since a new low next week could give rise to the best buying opportunity we’ve seen since mid-July. It would be based on a reverse-patten trigger with relatively little risk.
$SIZ26 – December Silver (Last:64.71)