SIN11 – July Silver (Last:34.870)

A rally pattern that closely matches one proffered in Gold today points to 34.900, so July Silver’s three-cent overshoot is a bullish sign for the near-term — one perhaps very subtly hinting that gold could forge higher into week’s end.  Traders should attempt to make use of several peaks recorded last Friday on the way down, since they are clustered tightly enough to be regarded as “vague” points of resistance by our competition.  Vague they most surely are not from a  Hidden Pivot perspective, since a move even slightly above any of them would generate a bullish impulse leg on the lesser charts.