Silver’s chart is similar to gold’s, but with a significant difference from a Hidden Pivot perspective: a ‘mechanical’ bid at the July contract’s green line (x=69.744) would be less likely to achieve the d target at 93.995 than gold would be to reach its corresponding target. That said, a one-level move, from x to p, looks like it will be a good bet. Expect both Gold and Silver to continue falling at least to x, where ‘camo’ bids will be warranted. ______ UPDATE (May 22): Last week’s funereal dirge changed nothing in my outlook or the trading guidance given above.
SIN26 – July Silver (Last:76.01)