With Friday’s stall very precisely at p=26.37, we are about to find out what this rally, now in its third week, is made of. A decisive push past this midpoint Hidden Pivot, especially with a close above it, would signal an imminent ascent to the 29.00 target (inset). For reasons that are technically too involved to get into, let me say that the rally pattern is quite fetching, implying that any ‘mechanical’ trigger signaled is likely to yield a profit. Risk is another matter, however, since the spacing between entry levels implies initial theoretical risk of $6600 per contract. We can work with it in real time, most effectively in crowdsource mode, so please signal your interest at appropriate times. _______ UPDATE (Apr 21, 5:13 p.m. ET): Burn, baby, burn! The May contract popped through p=26.37 with such brio that it is now and odds-on bet to achieve a minimum 29.00 in this bull cycle, which began from 23.74 on March 31. (And congratulations to ‘Farmer’, who not only nailed the low to-the-day, but provided a high-decibel heads-up in the Rick’s Picks chat room when the futures were bottoming out.) The pattern we’ve been using promises to work well for ‘mechanical’ entries on the way up, so stay tuned. _____ UPDATE (Apr 22, 10:14 p.m.): Well, okay, I jumped the gun. Let’s stipulate that the futures close above p=26.37 for two straight days before we break out the Rondel Brut bubbly.
SIK21 – May Silver (Last:26.22)