May Silver on Friday precisely fulfilled a Hidden Pivot target at 26.20 that was six months in coming. The actual high was 26.23, but don’t expect much more than that for the time being, since buyers could use a rest. Two or three weeks could enable them to recover, but in the meantime we’ll trade this contract with a bearish bias. We should also pay close attention to corrective ABC patterns, since an overshoot of their d targets would signal more downside while sharpening our assessment of trend strength.
SIK23 – May Silver (Last:25.46)