May Silver’s cinder-block fall through p = 32.508, a midpoint Hidden Pivot support shown in the chart, leaves no doubt that further slippage to at least d = 30.455 awaits. Expect a tradable bounce from that number or very close to it, but don’t bet the farm that the rally will achieve new highs above mid-February’s 34.560 peak, let alone above October’s at 35.800. I’ve published a corresponding target for April Gold, so we’re likely to have a verdict soon on whether the long-term bull market in bullion has stalled, or died. I doubt the latter will occur, but we should be prepared, nonetheless, for a potentially painful correction into the high 20s.
SIK25 – May Silver (Last:31.705)
