4-Hr Last Gasp for Silver? Silver FuturesCOMEX:SI1!pinochleprince18I just published my bearish outlook for Silver that is in play. I'm publishing this chart as the bullish antithesis to that weekly chart. If silver were to invalidate the weekly chart, it needs to start it's chance right now. Our Fub extensions show that silver has returned to the 0.236 level, indicating an automatic re-entry long on this chart. This Fib extension was clean, surpassing one internal and one external peak. It then took out a second external peak in the rally. That's a fairly decent move and a good chart. I hesitate because the ferocity with which it took out the the same levels to the downside usually doesn't indicate good things. However what gives me a sliver of hope is that the pattern setup within the past week or two looks like a Mountain/Valley Bridge, one of my favorites. It probably has an official name somewhere but I don't know it. When there is a nearly vertical move, followed by a nearly horizontal consolidation, followed by a nearly equal vertical move in the opposite direction this gives me the Mountain/Valley Bridge. Like a bridge strung between two mountain peaks or at the bottom of a valley. Silver ran up, went sideways almost perfectly, tried to escape during Jackson Hole and got pounded straight down. This sets up the Bridge. The question is did the Jackson Hole spike up invalidate the pattern? Usually the bridge will have semi-equal legs up and down, and then the price will rebound to take out the bridge. If that's the case then I expect silver to get through $72.91 in the next two weeks or so. This Bridge along with the Fib give me a clear entry and stop-loss setups. Losing $63.26 will show that both the Fib and the Bridge failed and it is likely that silver continues lower, as shown in my weekly chart. The Fib entry was $65.68 while the Mountain Bridge entry would be around $64.50 (there is no exact number). If we wanted confirmation of both we could use a regular Fib extension which would put an entry at around $66.31 as of the current low ($64.54) which would become our stop-loss upon entry. We would be looking for $73.00 as the profit target.