SIN11 – July Silver (Last:34.090)

Shortly after 1 a.m., Silver has gone bullish on the 30-minute chart (although not on the hourly), having surpassed no fewer than two internal peaks and two externals.  The bigger picture remains too bearish to buy aggressively at these levels, but I’ve sketched out a camouflage possibility that would at least cut risk down to size.  In this case, there were two choices for the k-A segment, but I’ve used the longer one just to be certain the futures have gotten a good rest before they attempt a C-D follow-through. The minimum retracement is calculated at 33.975 — still a tad below the so-far correction low at 34.050 as of around 1:15 a.m. EDT.