The 49.835 target I’d billboarded here caught a nasty top within millimeters, allowing subscribers to get defensive just ahead of a $3.26 downdraft. Now, use the pattern shown to keep in step. It signaled no fewer than three trades on Friday: short at the green line; long on the reversal from the red line (p=46.988), and ‘mechanically’ short again at x=47.804. That last trade has yet to touch 46.966, where half the short could be covered, and there is no assurance the position will be a winner. Indeed, if bulls seize the advantage as the week begins, they will likely negate the pattern with a very bullish push above C=48.620. Thereafter, use this pattern, with midpoint resistance at 48.828 and a ‘D’ target at 50.955. Don’t pass up an opportunity to buy ‘mechanically’ if the futures pull back to x after a run-up to our sweet spot.
SIZ25 – December Silver (Last:47.515)
