Sheeesh! Would a multi-day bullish rampage now and then be asking for too much? Tuesday was not it, as the chart makes clear. The futures took a running start after making a low early in the session, only to sputter out just shy of the key (and previously targeted) short-term peak at 17.360 notched a week ago. The subsequent fall is mildly impulsive on the intraday charts, but I’d suggest tuning out the downtrending pattern for now and focusing on possible ‘counterintuitive’ buying opportunities if the futures should come down to either of the two numbered lows. One or the other could conceivably be used to generate a ‘CI’ entry signal just as March Silver is turning feisty (which is what makes counterintuitive trades work so well). _______ UPDATE (Jan 25, 11:11 p.m. EST): The futures tripped a ‘counterintuitive’ buy signal off the #2 low shown in the chart, but we talked ourselves out of the trade because the bounce off the low seemed so feeble — and also because the impulsive segment of the pattern was not much of one. Lower prices seem likely on Thursday, so beware of a half-baked rallies, since it could turn out to be a bull trap. On the 240-minute chart, the potentially tradable pattern can be found using a=17.310 at 2:00 p.m. on 1/24.
