Silver’s losing streak could make it into the record book if it continues for yet a little while longer. The July contract has fallen for 13 straight days and is starting to look like the 1961 Philadelphia Phillies, who lost 21 straight games before beating the Milwaukee Braves 7-4 on a stiflingly hot day in August, 1961.  I was a bigger Phillies fan back then than I am a silver fan now. They had Robin Roberts, Stan Lopata, Harry Anderson, Ed Bouchee and a catcher name Carl Sawatski who is best remembered, if remembered at all, for having caught behind home plate without a chest protector. Were that Silver showed such daring and pluck! Instead, it has continued relentlessly lower and seems bound for the 15.485 target shown (a slight adjustment from the target previously given here). I’m confident it will achieve that Hidden Pivot and that there will be a tradeable bounce from very close to it. But to all of you silver bulls who like to dream big dreams, the bounce would need to reach 19.11 (!) to provide any real encouragement for the long-term. Incidentally, I am treating June Gold as a separate case, since its long-term chart doesn’t look nearly as bad. Check it out elsewhere on this page if you’re looking for a ray of hope. _______ UPDATE (May 7, 6:30 p.m.): The futures groped for a precarious foothold on Friday but showed little energy for extricating themselves from the deep hole they’ve dug over the last three weeks. The 15.485 target flagged above still obtains but would recede as an imminent probability with an upthrust on Monday exceeding 16.700.  _______ UPDATE (May 9, 6:55 p.m.): Although the 15.485 target will remain in play, look for a bounce from above $16 by week’s end, since a key 2016 low at 15.86 is going to attract supportive buying. Another reason to expect at least a short-term rebound is that 16 consecutive down days will have put bulls in a state of despair that nearly always produces a reversal.