DYODD, these are *just* TA targets. That means they *could*  be hit, not that *they will be hit*.

Normally, I’d say the fact that a wedge is building out as a possible RHS adds more validity to

the possible H&S. But for this:

Above shows “really nice”, (for want of a better term), H&S pattern that built out, which nevertheless failed.

 

SLV does now have both a wedge as a potential halfway pattern to the downside and also a wedge acting

as the RHS of a possible H&S pattern, which, obviously, would also to the downside. Personally, I don’t have the

experience to know whether two different patterns pointing to roughly the same target increase the

probability of the target being hit. The only thing I’m fairly certain about with respect to the

wedge is that SLV is building up towards a break out one way or another.

 

Also, there’s now a massive amount of potentially PM market moving events into year end:

  1. Another NK missile launch.
  2. Tax bill clearing or not clearing US Senate.
  3. Tax bill clearing or not clearing US House if it does clear the Senate. (May be an 11th hour thing if it does clear the House, i.e. 23rd or 24th.)
  4. FOMC, ECB & BoJ meetings in December.

Very tough PM market IMHO, too many potentially PM market moving events that simply cannot be predicted with any certainty in advance.

Put another way, I think the decisions of politicians and central bankers are now running the show for the PM space into year end.