I am unfurling the yellow flag in Silver, since the December contract nearly maxed out bullish targets on the monthly with last week’s rally to 43.435. That slightly exceeded a major Hidden Pivot target at 43.282 that I’ve since adjusted upward by a penny. Notice that there is still an unused ‘A’ low at 19.340 from September 2022 that would yield a somewhat higher target at 45.944. Although it could eventually come into play, I doubt this would happen before the futures have corrected off the 43.292 target associated with the higher, one-off ‘A’ I’ve used. Don’t go all-in if buyers start the week with a pop above last week’s high. That’s because there is a minor target at 43.585, or perhaps 43.770, that could repel the bullish herd. Either of these ‘conventional’ Hidden Pivots is shortable, provided you know how to set up a camouflage trigger that would limit entry risk to literal pocket change. ______ UPDATE (Sep 22, 4:14 p.m. EDT): The futures have blown past every minor Hidden Pivot resistance on the intraday charts today, implying they are bound for a minimum 45.944, the target flagged above. _______ UPDATE (Sep 26, 11:42 a.m. EDT): Use the 48.635 target shown here as a minimum upside objective. December Silver has exceeded all major targets, so we are extending its immediate upside potential with the Hidden Pivot target of a smaller pattern, the only one we’ve got to work with at the moment.
