July Silver tripped a promising short at the green line on May 27 that is showing s small profit. Friday’s swoon did not quite reach the red line (p=21.12) where half the position might have been covered ‘by-the-book’, but the trade still looks likely to work. We’ll be better able to judge how likely a further fall to D=18.90 is over the next few weeks, but the A-B impulse leg is steep enough to imply the target will be achieved. _____ UPDATE (Jun 16, 10:36): The short could have been covered for a $6600 profit at p=21.37, but if you still hold a partial position, exit now.
SIN22 – July Silver (Last:21.81)