Although I’ve flagged a potential bottom-fishing trade in June Gold using ‘mechanical’ levels, July Silver would become a fetching ‘mechanical’ short if buyers push it up to the green line (x=25.19) this week. The implied entry risk of $6200 per contract would warrant a trick-shot entry using a small reverse pattern, but that shouldn’t present a problem for seasoned Pivoteers. Worst case over the next 2–3 weeks would be 21.460, although I doubt sellers have the moxie to accomplish something so dastardly.
SIN23 – July Silver (Last:23.995)