SIN10 – July Silver (Last:18.535)

Silver curiously held its ground yesterday against mild weakness in Gold, setting up a possible thrust to as high as 19.430 over the near-term. First, though, buyers will need to push the June contract past  hidden resistance at 18.825, the midpoint sibling of our target. A 50-cent pullback would not only do no harm to the bullish technical picture, it would help rest the futures for a run-up above last week’s moderately challenging highs.