I’m using a more conservative pattern than in gold to project higher prices, since the May bottom at 20.42 was even more dispiriting than the corresponding one in AU. So far, the most bullish thing you could say about the rally is that it did not give us an opportunity last week to bottom-fish ‘mechanically’ at the green line. On the other hand, penetration of p=22.17 to the upside has been tentative and labored so far, implying that even the relatively modest ‘D’ target at 29.93 is not a done deal. I will provide trading suggestions if there appears to be interest in bullion in the chat room, but I am available to vet your ideas in any case.
SIN22 – July Silver (Last:21.91)