September Silver has stopped out no fewer than four previous lows on the daily chart since this consolidation began in late May, so we’ll be extra careful about where we get on and off the bullish bandwagon. We can use the reverse pattern shown to get long the next time, but because the futures breached p=30.85 and closed below it on Friday, we may have to wait until the retracement hits d=29.69 before we hop aboard. The turn could conceivably come from p2=30.27, so stay open to the possibility.
SIU24 – Sep Silver (Last:31.16)
