The March contract remains on-track for a run-up to at least 24.32, the Hidden Pivot target shown in the chart. Although the rally triggered a conventional buy signal on November 23, it has been too steep to afford us a ‘mechanical’ entry opportunity on the hourly chart. This will always possible if we zoom down to charts of lesser degree when trades come into focus on the larger charts. This occurred on Friday with the dip to the red line. Getting aboard in this way takes a little work, but I am always willing to vet subscribers’ timely ideas when I’m in the chat room. The D target here is capable of reversing the rally precisely and can therefore be shorted, provided you know how to hold the entry risk down to no more than 3-4 cents per contract. ______ UPDATE (Dec 5, 4:27 p.m.): March Silver’s still-nominally-profitable but feeble bounce from a ‘voodoo’ number today suggests it has lower to go. If so, a hit at 21.67 would trigger a ‘mechanical’ buy, stop 20.78. Obviously, with $18,000 of theoretical entry risk on four contracts, this one’s only for ace Pivoteers who have attended at least 3-4 Wednesday tutorial sessions.
SIH23 – March Silver (Last:22.41)