Silver Weekly Weakly to $44.00?Silver FuturesCOMEX:SI1!pinochleprince18Silver returned above the 0.236 Fib on our extension, a move that generally indicates that we re-enter our short position and load up again with a stop loss at $72.91. Because silver sat around the 0.50 Fib for months and didn't meaningfully crash through it's possible that we'll see silver just mess around between these levels. However, our general thesis is that until silver breaks through $72.91 and invalidates the weekly Fib extension, it's possible it's headed for $44.40. This could be achieved by a broad market pullback causing broad selling. With Warsh likely to hike 0.25% at the next meeting this could cause a little market chaos even though Bessent is out there to keep a lid on the long-end. I believe that by the end of the year the Fed will cut 0.50% at least, so by the end of the year we'll have a net 0.25% cut on the books. However, between now and then it could get wild. Bullion bulls say that the bottom is in. Podcasts, traders, furus are all onboard. More regular Joe's are waking up to bullion being the last life raft. However, unlike the gentlemen on the Titanic, the rich managers on Wall Street are more than happy to wait for you to load the life raft, drop into the cold Atlantic, flip, and then get in themselves at a much lower price as you drown in the cold depths. While the $44.00 target is excessively bearish, it is in the chart. I wouldn't be surprised at all if silver were to wipe out most believers before turning higher. As stated, above $72.91 this Fib is toast. As of right now however it's working as intended. On a much shorter 4-hr timeframe the contract HAS to move up from right here ($64.50) and start re-igniting an uptrend. If not, then my 4-hr thesis that we just had a Valley Bridge pattern in silver will be bunk and the weekly Fib trend is more supported.