July Silver has been on a buy signal since March 4, when it pulled back to the green line (see inset) after vaulting the 28.62 midpoint resistance with a meter to spare. That made a further push to D=35.02 an odds-on bet, even if it has taken three months to return to the midpoint pivot where partial profits were in order. Now we should want to see the futures close for two consecutive days above the red line (28.62) before inferring that silver has launched for an ascent toat least p2=31.82. We’ll trade the move using ‘reverse abc’ patterns and ‘camouflage’ on the intraday charts, so stay tuned to the Trading Room if you want in.
SIN21 – July Silver (Last:27.90)