SIN10 – July Silver (Last:18.030)

July Silver (SIN10) Hidden Pivot price chart with targetsA print at 19.175 would turn the five-minute chart persuasively bullish (see inset), but if the futures surprise with a swoon, a Hidden Pivot support at 18.405 is where buyers should back up the truck.  Stink bids are advised there with a stop-loss as tight as four ticks. ______ UPDATE 12:53 p.m. EDT):  The futures took a 60-cent bounce off an interim low at 18.410 — not quite close enough to our back-up-the truck number to fill a precise bid.  They subsequently relapsed to 17.920, and this is a bearish sign going forward, at least for the near term.  If you bought with a four-tick stop-loss as advised, you exited with a small loss. I wouldn’t suggest trying again until such time as 17.780 is reached, since that’s my minimum downside objective for the moment.  However, to make entry with an uptrend, you could look for a camouflaged rally on the 5-minute chart.  That would allow you to get long even if the futures don’t come all the way down to 17.780.