July Silver has tripped a theoretical sell signal at 32.110 tied to a D target at 26.405. I doubt it will be that bad, but we should still be prepared for a fall to the midpoint Hidden Pivot, 30.210. We’ll make that our minimum downside objective for the near term while planning to bottom-fish there with entry risk under tight control. Because of the way the pattern is constructed, with a somewhat unconventional ‘A’ and a ‘p’ Hidden Pivot in the middle of nowhere, a dip to p would provide an exceptional opportunity to bottom-fish. This will obtain unless the futures reverse and pop above C=34.015.
SIN25 – July Silver (Last:32.180)
