Last Thursday’s pop to the green line (x=23.154) triggered a very promising ‘mechanical’ short, by which I mean to imply that the pullback from it has about an 80% chance of coming down to at least the red line (p=22.58) where partial profit-taking would be warranted. I missed the signal because I was focused on a pattern with a lower point ‘A’ high that needed a run-up to x=23.295 to trigger the short. We’ll respect the signal in any case, starting the week with a bearish bias and a theoretical downside target at D=21.455.
SIH24 – March Silver (Last:22.872)