A 28.810 target is by now an old friend — make that, enemy — and there would seem to be little chance that the futures will somehow avoid getting there in the day(s) ahead. If they close below that number, however, keep 26.940 in mind as a logical next stop. That Hidden Pivot is equivalent to the one at 1534.30 that I’ve identified in today’s tout for June Gold. One more number to watch is 28.420, for which the 30-minute-chart coordinates are A=30.235 (5/7), B=29.135 and C=29.520. _______ UPDATE (10:06 a.m. EDT): The Hidden Pivot at 28.810 evinced zero support. Given that it was as clear a target as I have yet to discover, this development is quite bearish. We’ll continue to give Silver the benefit of the doubt nonetheless, and to bottom-fish whenever the odds look good. However, today’s action suggests that at a minimum, the futures will come down to test December’s 26.500 low.
