The 23.24 correction target we’ve been using will have to do, even though the A-B impulse leg that produced it did not exceed any ‘external’ lows. That makes it ‘sausage’, and therefore less useful for projecting tradeable turning points. A low at the target would fall well within the exhaustingly tedious corrective band that has formed since last August’s 30.59 high. To be sure,, the big picture is bullish, albeit stagnant in part because so much speculative energy has been diverted into bitcoin. If and when the May contract dips to 23.24, we can bottom-fish rABC-style using A= 25.42 (3/12). _______ UPDATE (Mar 30, 9:05 a.m. ET): The futures have breached p2, putting a D target at 23.28 in play. The pattern used to produce this target has been adjusted somewhat from the earlier one associated with 23.24.
SIK21 – May Silver (Last:24.10)