A big reverse pattern going back two weeks shows a key resistance at 75.510 if the futures should rallly from the hole they’ve dug themselves since topping at 82.67 on December 28. The ‘D’ target associated with that midpoint Hidden Pivot lies at 81.795, which would fall just shy for the old record. More immediately, however, a smaller, bearish pattern targetd on 70.810 must run its course before bulls are likely to find traction. If they don’t and the March contract slips below 69.255, that could put it into a dive to as low as 65.40 over the near term. Look for a tradeable bounce there if the ‘hidden support’ is hit.
SIH26 – March Silver (Last:72.265)
