If Gold was acting coy about its next move, May Silver ended the week looking primed to moved higher. The pattern shown triggered an appealing ‘mechanical’ buy at the green line (x= 67.434) that should be good for a ride to at least p=73.658 (nearly achieved on Friday), but to as high as 86.105 over the next 2-3 days. The set-up is ‘textbook’ enough to suggest that anyone who bought on Thursday is an 80% bet to make money. Sunday’s opening is always unpredictable, but if trading begins with a fist-pump through p, you can be confident the move will reach the target more than $6 above.
SIK26 – May Silver (Last:69.770)