Comex Silver has turned wishy-washy after a promising rally that lasted for nearly the entire month of April. The good news is that before buyers went into hibernation two weeks ago, they pushed the July contract slightly above an ‘external peak at 26.755 recorded on March 18. That added promise to the ‘reverse’ C-D follow-through leg shown in the chart and turned the reverse pattern itself into a decent platform for getting long to a 28.945 target. One way to do this would be with a bid at x=25.075, the green line, with a stop-loss at 23.780 just below the green line. That would risk about $6,500 per contract, but in practice, to reduce that by as much as 95%, we would craft an entry trigger using ‘camouflage’ or a small-degree rABC. If you trade this vehicle and know your ABCs, be prepared to show your stuff in the chat room, where crowdsourcing is always welcome.
SIN21 – July Silver (Last:25.873)