SIN11 – July Silver (Last:38.165)

July Silver (SIN11) price chart with targetsThe futures have turned timid at the 38.470 midpoint resistance associated with a ‘D’ target at 40.720. If they pull back for a running start, expect the selling to come down to at least 37.475, the midpoint support of the pattern shown.  It’s less than ideal for bottom-fishing, however, because of its close proximity to the prior low at 37.430.   Alternatively, bulls could launch a powerful offensive today with a print today at 39.570.