$SIN25 – July Silver (Last:32.430)

Silver has been engulfed by tedium, almost too painful to watch. A breakdown below the sawtooth action of the last several weeks should be presumed headed to the red line, a midpoint Hidden Pivot support at 30.200. A tightly stopped buy there would be warranted if you feel like bottom-fishing, but it could take a while before the futures signal the trade. Neither bulls nor bears could be very happy at the moment, which is usually Mr Market’s cue to deliver more of the same.

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