My 'BoT' model (a simple yet effective way to play AB=CD
Fibonacci price patterns) suggests the SLV
is a weekly buy at $21.98 with initial stops 1 tick below the swing low of $20.45 (154 ticks risk) and an ultimate upside target of $26.45 (458 ticks). This is a simple play off the gap fill rejection of last week. Should that gap fill rejection fail to hold ($20.44) I would walk. Considering the US Fed's reluctance to turn the printing press's off and their comments regarding relatively low inflation
expectations, commodity prices have a lot of room to rally from these levels. The question is, how fast will it happen...