I don’t often resort to trendlines, but the one shown is as promising as any Hidden Pivot I could offer you for purposes of bottom fishing right now. It has a rising slope of about two cents per day, implying it will come in at around 18.845 at mid-session on Wednesday. My gut feeling is that the line will produce a tradable bounce, and you could even play it with a ‘camouflage’ entry off the one-minute chart. Please report any fills in the chat room, since it may be possible to establish a tracking position if at least two subscribers go in-the-black with this gambit._______ UPDATE (Sep 29, 12:31 a.m. ET): The trendline will come in at around 18.870 on Thursday at midsession. However, if the futures push above 19.735 first, it would imply they are about to leave the trendline in the dust, bound for a minimum 20.490 (240-min, A= 18.460 on 8/28). _______ UPDATE (7:17 p.m.): At midsession on Friday, the trendline will come in at around 18.880. We may not be gifted with such a bargain, however, and that’s why you should look for ‘camouflage’ and/or ‘counterintuitive’ entry opportunities on the lesser charts. _______ UPDATE (Oct 2, 3:12 p.m.): And now the trendline sits at around 18.900. It hasn’t been touched since September 16, but that has rather increased its appeal rather than diminished it._______UPDATE (Oct 4, 10:36 p.m.): Sellers crushed the trendline, sending the futures down to the pre-Brexit lows. They seem unlikely to hold, implying the futures could now grope their way down to $16, where a key bottom was recorded in June, in search of support._______ UPDATE (Oct 6, 10:32 p.m.): A bearish pattern similar to the one I’ve drawn in Gold projects to a minimum 17.468, or to 16.895 if any lower. A bounce from the first number would confirm the pattern and its target. Worst case for the next 4-7 days: 16.435 (60-min, A=19.350 on 10.3)._______ UPDATE (Oct 10, 9:24 p.m.): Bulls have stubbornly clung to the support of a midpoint support at 17.028 and would earn the well-deserved benefit of the doubt for the near term if they can push the futures above 17.880 on Tuesday. _______UPDATE (Oct 11, 7:32 p.m.): Bulls made no headway, but neither did they throw in the towel. Let’s set the bar at 18.040 for the time being just to be sure.______ UPDATE (October 15, 2:57 p.m.): Last week’s mincing steps lower have not altered the outlook for the near term. December Silver will need to hit 18.045 to hint that a significant turnaround may be lurking.
