SIN10 – July Silver (Last:18.910)

Bears appear to be struggling and have so far been unable to correct the futures down to an abc midpoint. It wouldn’t take much for the bulls to run the July contract up their ol’ wazoos:  a print at 19.475, actually — just one thin dime above Friday’s top.  As of around 8:35 p.m. EDT Sunday night, there were no good handholds for a camouflaged long entry on the lesser charts — only dueling impulse legs that promised to test the patience of bullish traders. _______ UPDATE (2:48 a.m. EDT):  If Gold and Silver continue to diverge tonight, night owls can try bottom-fishing at 19.065 with a stop-loss as tight as four ticks. ______ FURTHER UPDATE (1:27 p.m. EDT):  The bounce came from 19.03, stopping us out for a small loss and telegraphing the weakness that was to follow.  Current signs indicate a potentially tradable low at 18.575, my worst-case downside target for the very short-term. One other possible turning point worth mentioning:  18.685.