SIN10 – July Silver (Last:18.810)

Like Gold, Silver took an impulsive plunge on the hourly chart yesterday, obliging us to keep a close eye on minor retracement patterns until things improve.  The good news is that the futures poked above an external peak on the hourly chart before diving, suggesting they are still feisty enough to be a little playful even when bears threaten a pounding. But buyers will need to push the July contract above 19.070 today to recover the advantage. That corresponds to a minor peak made yesterday on the way down.