Although I still expect the May contract to carve out a potentially important low at 29.940, the 30.265 ‘D’ target of the lesser pattern shown in the chart promises to reward bottom-fishers as well. Camouflage is suggested using a 5-minute chart or less, and you should start looking for the turn anywhere below 30.285. Risk no more than $70 theoretical per contract on entry. I will establish a tracking position for your further guidance if at least two traders acting on my advice report fills in the chat room. _______ UPDATE (11:45 a.m. EDT): Silver has gotten obliterated today in the space of just 15 minutes, crushing the 30.265 pivot so that no camouflage entry was possible (or desirable). The 29.940 pivot below it was probably inevitable anyway, so that’s where you should look for an actual bottom. I can’t confirm it at the moment, but it seems likely the hysterics are related to some statement that our factually challenged Fed chairman has uttered before some panel.
