Although Feb Gold had the decency to leave us with a little hope, Silver is not being so kind. Its clean destruction of the midpoint pivot (p=22.868) leaves little room for doubt about whether the weakness of the last month will continue on down to the 22.01 target shown. In the meantime, we should plan to get short on a blip to the green line (x=23.295), since the ‘mechanical’ aspects of the trade look promising. The pattern may also be gnarly enough to use D=22.015 for bottom-fishing.
SIH24 – March Silver (Last:22.71)