Bulls continue to lurch toward a 41.060 target while also whittling down a gold:silver ratio that had gotten egregiously out of whack when it poked above 100; it is now around 87. You should regard the target as extremely likely to be achieved, given the ease with which buyers pushed through the midpoint Hidden Pivot at 34.751. The pattern is gnarly, and there is an alternative to the A-B impulse leg. However, its ‘D’ target was exceeded, and that’s why I’ve switched to a more elongated A-B with a slightly higher target. Looking just ahead, you can try bottom-fishing with a stop-loss as tight as six cents if the futures come down to 37.37.
SIU25 – Sep Silver (Last:38.464)
