SIN10 – July Silver (Last:17.850)

Don’t look for a quick recovery and blitzkrieg rally to the 21.53 target broached here earlier, since the futures have fallen without refreshing the bullish impulse on the daily chart.  That would have required a  push to 18.915;  in actuality, the most recent thrust topped at 18.890 on Monday.  The negative implications thereof would be affirmed by a further fall exceeding 17.260, so we are not quite there yet.  However, the larger picture, with its 21.53 rally target, will remain viable as long as July Silver does not fall below 16.590.