SIK12 – May Silver (Last:32.200)

May Silver (SIK12) price chart with targetsWe shouldn’t allow ourselves to be seduced by Friday’s rally, since the larger downtrend had crushed a Hidden Pivot midpoint support at 31.680 with ease a day earlier (see inset).  Camouflageurs can attempt to get short near 33.385, the lower green line where a short to 30.270 was initially signaled. However, the hourly chart would swing back to bullish if buyers can push this vehicle above 32.495 today. The importance of that number is also shown in the chart.