SIN10 – July Silver (Last:18.365)

The downtrend from Tuesday’s 18.735 high is strongly impulsive on the hourly chart, having exceeded three external lows, so we should keep a close eye on things, especially if any minor corrective abc patterns that develop should exceed their c-d midpoints.  Buyers would need to push the futures to at least 18.815 today to put bears on the defensive. There are no particularly promising corrective targets I can offer you at the moment — only a vague midpoint support at 17.865.