The futures tripped a promising ‘mechanical’ short on June 15 at 21.83, but we are just spectators, since no subscribers expressed an interest in the trade, let alone reported taking a position. The 19.64 target is valid and remains the worst-case scenario for the coming week, but it is no more likely to be reached than a comparable one in gold at 1756.90. You can try bottom-fishing at p2=20.37, which sits 5 points beneath May 13’s important low. That would make it a ‘discomfort zone’ trade, and it can be snagged using a ‘mechanical’ setup on a lesser chart. ______ UPDATE (Jul 1, 9:38 p.m.): Shifting to the September contract, this morning’s breach of an important hidden support implies more downside to at least D=18.96 (daily, A= 26.65 on 4/18; B=22.21 on 5/2). If that Hidden Pivot, too, is splattered, we would need to move A-B down to the next to produced a new target at 18.06, a p2 ‘secondary pivot’.
SIN22 – July Silver (Last:19.61)
