SIN11 – July Silver (Last:34.165)

Silver and Gold are going their separate ways Sunday night, although my bearish outlook for the former implies that it is Gold that is likely to do the catching up — to the downside.  If so, look for July Silver to fall a further 83  cents over the near term to the 33.310 Hidden Pivot support shown in the chart. This implies that a rally to the midpoint, 35.040, could turn out to be a bull trap, even if it creates a bullish impulse leg on the hourly chart.