The bullish ‘reverse’ pattern shown is equivalent to the one given in the gold tout just above. It shows promise for ‘mechanical’ bids not only because the pattern itself is less visible to the riff-raff than a conventional ABC, but also because the bombed-out low (c) will cause most traders to think the rally is corrective. I do myself, but that wouldn’t stop me from leveraging the pattern to get long if price action sets up the trade the way we require. The precise stall at p could also prove useful, since it augurs a tradeable pullback from ‘D’ precisely if the target is reached. _______ UPDATE (Sep 8, 8:56 p.m.): Let’s shift our sights south, since the futures tripped a theoretical sell signal today. The more promising trade will entail bottom-fishing with rABC if the downtrend hits p=23.05, so stay tuned.
SIZ21 – December Silver (Last:23.99)
