SIK12 – May Silver (Last:33.810)

May Silver (SIK12) price chart with targetsThe futures have ratched timidly higher in night trading, achieving a largely unimpeded gain of about 25 cents. However, the move was stalled shortly after midnight due to the presence of real resistance at 33.900 where an important peak was recorded earlier in the day on the way down. Night owls and camouflageurs should note the presence of two lesser ‘external’ peaks that lie, respectively, 2 cents and 5.5 cents below it, since a small pullback from just above either could set-up a low-risk entry opportunity.  I have sketched this hypothetically on the chart for your further guidance. Would you like to learn how we use the ‘camouflage’ trading technique to significantly reduce entry risk? Click here for details.