Last week’s tedium left July Silver with somewhat further to fall before sellers are likely to exhaust themselves. Specifically, the futures will need to come down to at least 25.90 for that to happen. This appears likely due to the way the downtrend crushed the midpoint Hidden Pivot support at 28.045 the first time sellers encountered it following mid-April’s 30.19 peak. There are no easy hooks for determining a trigger interval to bottom-fish, so we may have to calculate it in real time if and when the target is hit. Stay tuned to the chat room and your email Notifications if you care..
SIN24 – July Silver (Last:26.69)