SIH24 – March Silver (Last:22.594)

The futures are on a reverse-pattern buy signal triggered nearly three weeks ago at the green line (x=23.06). They haven’t done much since, other than disappoint, but the signal remains valid nonetheless until such time as the March contract drops below C=22.04.  My gut feeling is that the trade will work, delivering at least a one-level ride to p=22.08. However, I’d be tempted to try again with a tighter reverse pattern if sellers should stop out C. A voodoo number sits about 30 points below it and could be useful for those inclined to trade this vehicle and who are familiar with voodoo set-ups.