SIN12 – July Silver (Last:26.940)

If, implausibly, Hollywood were to somehow turn a commodity chart into a cliffhanger movie, Silver’s weekly chart is the one the focus groups would all agree on (see inset).  Even to the untrained eye, the July contract looks like it cannot possibly go anywhere but down. And that is why I am going to focus today on the upside:  what it would take to put some bullish energy into this vehicle.  Specifically, on the 15-minute chart, a print is needed that exceeds the  27.295 ‘external’ that I’ve highlighted.  And now, we wait.  (You can learn how to do this stuff yourself, and it’s not that hard!   Click here if you’re ready to look at charts — and managing the risk of a trade — in a radical new way.)