Last week’s poke above the 69.215 midpoint resistance shown in the chart is encouraging, since it shortened the odds of a further push to the 83.430 target. If the futures can make it two weeks in a row, they will be no worse than a 60% bet to reach ‘d’. In the meantime. they are already set-up for a ‘mechanical’ buy on a sharp pullback of around $7. I will signal the opportunity if and when it comes, but it would be telegraphed by a $2.18 decline from any high. That number can be used as a trigger interval (TI) to get short, but you should do so only with a small-pattern (i.e., ‘camo’) set-up, since a mere $1.00 move against you would be $5,000 down the toilet.
$SIU26 – Sep Silver (Last:69.530)