SIZ22 – December Silver (Last:18.910)

I’ve adjusted the downside target to 16.39 in the pattern shown. It has triggered two profitable ‘mechanical’ shorts at the green line, and although that’s no guarantee D will be reached, it does shorten the odds, especially for a test of the p2 low at 17.55 recorded on 9/1.  I wouldn’t suggest attempting a third ‘mechanical’ short if the futures return yet again to the green line, since that would put them within the scent of C=21.02 and an opportunity to stop out bears who have been racking up fat gains since last March.  One last note: A plunge could find tradeable ‘hidden’ support at 16.96, a lesser ‘D’ target calculated by sliding ‘A’ down to the 22.23 high recorded on June 16.