Friday’s pop through the red line left no doubt that the rally will reach the 23.695 target of the middling reverse pattern shown. We can trade confidently with a bullish bias until then, but it is what happens thereafter that matters. A decisive move through the Hidden Pivot or a two-day close above it would portend a likely follow-through that tests the 26.940 peak recorded in May. In any event, the next 80 cents of the ascent looks so certain that we might expect half of it to occur when the futures resume trading Sunday evening. _______ UPDATE (Oct 16, 12:03 p.m.): Don’t believe bullion’s sluggishness today; it is being stage-managed by big players who are even more eager than you or I to buy the stuff before it takes off.
SIZ23 – December Silver (Last:22.80)