By Avi Gilburt:
For the last several months, and despite strong opposition to the contrary, I have been suggesting that silver futures can still attain my next lower level Fibonacci extension of 26.87. Yet, all I heard was “you are foolish if you think silver will ever see a $26 handle again.” Well, maybe I am not so foolish after all.
While I was correct in expecting lower levels in my article last week, I incorrectly thought that we could see a small rally before the lower levels were seen. Additionally, we did drop about 25 cents below my bottom target of 26.87 for this past week before the market bounced. So, as I always say, this is a game of probabilities, and we cannot always hit out targets exactly as laid out, even though we often do hit them to the penny. It is simply not possible that anyone can be