Silver’s rally fizzled, as so many of them do, stranding a ‘mechanically’ acquired long in limbo just above a 24.04 stop-loss. The sting would have caused little pain, however, since subscribers were advised to set up a ‘camouflage’ trigger when the futures first came down to the green line. I am anticipating a gratuitous dip below C=24.04 before bulls could attempt yet another charge for better or worse. The chart is such a mucking fess that I can offer no compelling downside targets. This suggests that the next upturn will come firm a ‘discomfort’ zone lying in the grey void between two prior lows.
SIK22 – May Silver (Last:24.19)