SIN11 – July Silver (Last:35.505)

July Silver (SIN11) price chart with targetsA midpoint support at 35.525 is equivalent to the one I’ve flagged in Gold, and if it fails we should prepare for more downside to as low as 34.705 over the near term.  Since the midpoint is two cents beneath an obvious structural support, I’ll suggest bottom-fishing there with a three-tick stop-loss. This Hidden Pivot is worth a shot because the breach of the structural support would be read as a breakdown by the herd.  _____ UPDATE (8:21 a.m.): We got stopped out for small change when the midpoint evinced no discernible support. This has put the 34.705 target in play, and the futures would now need to rally above 36.775 to hint that things are turning around.