We should give silver’s tortuous bottoming action the benefit of the doubt, since gold looks bullish at the moment. The March contract reaffirmed a theoretical ‘buy’ signal on Friday with a pop through the green line (x=29.954), but it will need to fist-pump its way past the midpoint Hidden Pivot resistance at 30.763 to demonstrate the rally’s staying power. Because the reverse-pattern’s point ‘a’ low is a ‘locked’ coordinate with no alternatives, the levels should work well for shorting or for bottom-fishing ‘mechanically. _______ UPDATE (Jan 8, 8:35 p.m.): Buyers pierced the 30.763 midpoint resistance, but not decisively enough to clinch safe passage to d=32.380. However, a return to the green line (x=29.954) no sooner than next week could be bought ‘mechanically’ with a 29.140 stop-loss. A ‘camouflage’ trigger is suggested to cut the $16,000 entry risk.
SIH25 – March Silver (Last:30.750)
