SIN11 – July Silver (Last:36.370)

Although Silver has been trending higher for more than a week, the slope of the rally has been unimpressive. Most immediately, a Hidden Pivot resistance at 37.060 is about as high a target as can be coaxed from the hourly chart (where p=36.160). The pattern is too sloppy to use for precise shorting, although the target itself should be good enough for government work, analytically speaking.