The thumbnail chart shown is one we pored over during yesterday’s tutorial session. The key price points to watch are 30.145, a midpoint support that can serve as a minimum downside target for the near term; and its ‘D’ sibling, 28.810. Both look like high-odds numbers that will be reached precisely, which is good for trading purposes. The bad news, however, is that a fall to the lower pivot would take quite a toll on precious-metal bulls. Most immediately, buyers will need to push the June contract above 30.625 today to go on the offensive. However, it would take nothing less than a close above 30.845 to set up a rally into week’s end. Both numbers are ‘external’ peaks easily found on the 10-minute chart.
