The futures have tiptoed up to the 19.458 Hidden Pivot midpoint of the pattern shown, and if they get past it — the more easily, the better — a further run-up to at least 20.245 over the very near-term would become an odds-on bet. It would also refresh the bullish impulsiveness of the intraday charts, since some external peaks to the left will have been exceeded in the process. Camouflageurs should look to limit entry risk to no more than $30-40 per contract, implying that you’ll need to zoom down to the 3-minute chart or less. _____ UPDATE (8:45 p.m.): Buyers punched past our bullish benchmark with a dime to spare before retreating into a shallow pullback. The thrust left an impulse leg that was still intact as of Tuesday night, but it would be negated by a drop below 19.035 (aka point ‘C’). Thereafter, it would take an uncorrected rally exceeding 19.590 for bulls to get something going again. The relevant peak is shown in the chart, a fresh one. ________ UPDATE (July 11, 1:35 a.m.): Yesterday’s rally was solidly impulsive, surpassing several prior peaks on the 240-minute chart where real rallies begin. The move also left some obvious ‘priors’ unscathed, opening the door to a possible ‘camo’ trade entry if the rally pulls back without having gotten past them. I’ve sketched this hypothetically in the chart, a new one, for your guidance. _______ UPDATE (8:54 p.m. EDT): At the intraday high, Thursday’s rally kissed the 20.240 target of the pattern shown. If the next thrust comes as an extension of the smaller pattern at the chart’s right-hand edge (purple coordinates), it’ll hit 20.950 (subject to a midpoint impediment at 20.355. Camouflageurs may want to note the very delicate and potentially useful external peak at 20.295. _______ UPDATE (July 18, 12:40 a.m.): Silver’s stall a week ago precisely at a Hidden Pivot target (see inset) demanded caution. Now, like Gold, it has generated a bearishly impulsive leg on the hourly chart as a result of yesterday’s downdraft. We’ll need to see how bears handle the midpoint support of the follow-through leg to better judge whether gains from the June 28 low are about to be erased.
