The bullish pattern shown projects to 93.99 and corresponds to the one accompanying the current Gold tout. A key difference is that Silver did not signal a ‘mechanical’ buy, or at least not one that would still be “live”. That could actually be construed as a sign of strength, since the futures did not pull back far enough to touch the green line (x=69.744) where we initiate most of our ‘mechanical’ trades. If it does so this week, however, don’t hesitate to buy there, albeit with a ‘camo’ trigger that would spare us the approximately $40,000 of entry risk associated with a textbook stop below ‘c’.
SIN26 – July Silver (Last:76.431)