A possible finale to the steep plunge predicted here nearly two months ago, when the futures were trading more than $3 higher, came with 19 cents of the 18.115 target this morning. However, based on a closer look at the chart shown, I am revising the target downward to 17.885. This looks like a promising spot to try bottom-fishing, and so I’ll suggest doing so via camouflage on a chart of 5-minute degree or less. You should start looking for the opportunity when July Silver gets within 3 cents of the target. ______ UPDATE (July 1, 2:15 a.m. EDT): The 10% rally from Friday’s lows may seem impressive, and we should certainly be encouraged. However, take another look at the chart accompanying my original tout and you’ll see that the 17.885 target given above still looks quite compelling if not inevitable. Short-term, however, a thrust exceeding June 23’s 20.175 peak would be bullishly impulsive on the hourly chart, implying that any subsequent pullback could set up a camo buying opportunity.
