I almost never use conventional ABCD patterns any longer, but it’s the only choice we have at the moment. Fortunately, even lousy patterns that every pinhead and algo on earth see still work with respect to the predictive value of price action at p, the midpoint Hidden Pivot (p). In this case, the decisive move through p=34.142 all but guarantees the rally will reach a minimum D=40.439. It seems odd that the freakish skew of the gold:silver ratio is about to end with so little fanfare, but in this case, all it will have taken to start bringing the two back into line is just a couple of extra-strong rallies in silver that went unmatched by gold.
SIN25 – July Silver (Last:36.130)
