There are no glow-in-the-dark correction targets in Silver’s chart that correspond to the one I’ve suggested bottom-fishing in gold. The secondary pivot at 25.89 can be used to attempt it, but I’d suggest doing so only with an rABC set-up capable of significantly reducing the entry risk. If you use the 27.41 low recorded on February 24 as point ‘A’, the implied initial risk would be a tad less than $1000 per contract, a bit rich for my taste. Your best bet, more labor-intensive, for cutting that to $150 or so would be to use a camouflage set-up once p2=25.89 has been touched. _____ UPDATE (Mar 3, 5:54 p.m. EST): Use the 25.03 target shown in this chart as a minimum downside target and a place to bottom-fish if support at p2=25.89 fails. The secondary pivot has already produced a robust bounce, but buying there (25.89) on a second re-rest is not advised.
SIK21 – May Silver (Last:26.18)