SIN11 – July Silver (Last:35.755)

July Silver (SIN11) price chart with targetsSilver’s 480-minute chart yields a somewhat different picture from the one I’ve displayed next to today’s Gold tout, since the most serviceable one-off ‘A’ occurred  slightly later in time.  Instead of trying to reconcile the two, I’ll offer the midpoint and ‘D’ target of a lesser pattern (shown):  34.825 and 30.180, respectively.  The first lies 20 cents below current levels and should be used a minimum downside objective for the near term.  If it gives way easily, however, the presumption would be for a further fall to at least 30.180.