A full correction to the 27.41 ‘d’ target shown would be a back-up-the- truck buying opportunity that could be initiated with a tight stop-loss. We should be alert to the possibility, however, that the retracement will fall somewhat shy of d before reversing. A logical ‘fooler’ spot for a reversal would be from near 28.11, the midway point between p2 and d. A second possibility would be a turn from around 27.72, midway between the last two prior lows. In any case, I expect sellers to bring the futures down below the 28.90 low from June 28 before a turnaround can occur.
SIU24 – Sep Silver (Last:29.30)
