SIH23 – March Silver (Last:21.64)

I’ve raised the point ‘A’ high to project a 20.105 downside target that is more bearish than any aired here recently. The pattern and its target are somewhat corroborated by the initial bounce precisely from p=21.37, but also by the subsequent dance around that number for two more days. We should know early in the week whether bears are likely to remain dominant over the near-term, since a bounce touching x=22.003 would trigger a textbook ‘mechanical’ short. I’ll suggest paper-trading this one nonetheless, unless you know how to cut the nearly $13k of entry risk down to size. Nudge me in the chat room if I’m around, since I may be able to help. _______ UPDATE (Feb 22, 12:28 pa.m.): The short effectively triggered with today’s rally to 21.995. This implies that the futures are likely to fall to at least p=21.37. _______ UPDATE (Feb 22, 9:50 p.m.): So the futures fell to 21.43, and I really don’t know whether that’s ‘close enough’. Wake me when something happens.