Last week’s rally to the green line (x=23.15) generated an enticing signal to get ‘mechanically’ short, but it went unanswered because silver hasn’t exactly been a hot discussion topic in the chat rooms. ‘Spartacus’ offered a link to an ostensibly bullish chart, but only tentatively so. The chart shown in the inset had more immediate consequences, but it remains to be seen whether the so-far one-level move finds its way down to the ‘D’ target at 21.45. I doubt it, but a further fall to at least p2=22.02 is neither illogical nor unlikely.
SIH24 – March Silver (Last:22.796)