Silver’s immediate prospects are no better than gold’s, although we have a clearer benchmark for the latter that can help us gauge trend strength. The pattern shows July Silver in a descent targeted on 60.795. A precise bounce there seems unlikely, as it coincides with the clown low of 61.66 recorded on March 23. However, it will be good enough for government work for those who want to try bottom-fishing with an rABC trigger of small degree. Because p-75.450 was not brutalized on the way down, there is also a chance the futures will go no lower than p2=68.23, where they made their low on Friday. However, any upward reversal would need to hit 79.400 to be considered significant.
SIN26 – July Silver (Last:69.103)
