September Silver spent the week munching on midpoint resistance at p=29.700 ahead of a presumptive push to at least p2=31,298, and thence D=32,895. There’s always the chance Mr Slammy could bludgeon the futures lower for a few days, but a fall to x=28.103, however unlikely, should be regarded as a great buying opportunity. Silver moves much like crude, which is to say, with wicked, gratuitous feints in both directions that could unnerve anyone not proficient at interpreting charts. Focus on impulse legs of varying degree and you’ll never go far wrong.
SIU24 – Sep Silver (Last:29.860)
