SIH24 – February Silver (Last:24.086)

Friday’s selloff early in the session put Silver a tradable step ahead of Feb Gold, since it triggered a ‘mechanical’ buy at the green line (x=23.80) that has yet to occur in gold. There are no guarantees that the theoretically profitable bounce that occurred subsequently will keep on going, but the bullish signal would remain viable nonetheless, even if the futures slip beneath 23.80.  The signal offers no assurance of a further move to D=26.86, only the likelihood of a profitable one-level move from x to p.