[I am indebted to my longtime subscriber David Isham for contributing the following analysis of Majestic Silver. It is a wake-up call to those of you who may have become too bored with silver to notice that it has been stirring lately after a long slumber. RA]  The last time First Majestic Silver showed any sign of life was two years ago, which coincidentally happens to have been the last time we discussed this silver miner.  I regard First Majestic as the canary in the coal mine, and here on the weekly chart we see the first instance of its surpassing a significant point ‘C’ peak recorded on the way down. As I noted here earlier in relation to the Hidden Pivot Method, if a stock wants to turn around, it will usually do so at p2, which lies halfway between the ‘D’ target and the midpoint Hidden Pivot. Here we have not just one but two p2’s of different degree potentially ending this bear market in metals and setting up what could be the beginning of a next leg up.

When you consider that silver has a much greater amplitude to both the upside and to the downside compared to gold, and further consider that silver miners have an even greater amplitude than silver bullion, you can start to imagine the gains we could reap if we pay close attention.  I’m looking for a pullback over the next day or two and a potential set-up to get onboard. Although the bull is stirring, we’ll let the stock tell us in the days and weeks ahead if the more-than-five-year consolidation is over. We may not catch the exact bottom using this approach, but looking back five years from now, I am confident that any shares bought for less than $10 will prove to have been a bargain._______UPDATE (June 18, 11:32 p.m.): We got the pullback I was looking for. The stock has moved 60% in the past three months, and the failure at D on the 15 minute chart is telling us First Majestic needs a break. On the daily you can see a pair of midpoint pivots that acted as resistance and will now provide support for an eventual move to 8.27.  Those of us who have been waiting to buy AG after all these years are now looking for a pullback to climb on board after this last thrust up took out 3 prior peaks on the daily; it wasn’t a run-of-the mill impulse leg. Don’t expect the ride on this silver bronco to be easy. It could move sideways for a few months and lull everyone to sleep before it explodes higher.________ UPDATE (July 06, 11:32 a.m.): First Majestic hit 8.32 this morning so take some chips off the table. The dawn of a new metals bull market is looking good so far. There’s another D target right above at 8.43 using the 4.93 A on the daily. ________UPDATE (July 11, 12:32 a.m.): Hopefully you took chips off the table as AG had a nice pullback after skewering our 8.43 target. A visible 6 month long channel is getting long in the tooth and an obvious channel like this will be picked up by the hoi polloi so I’m waving a cautionary yellow flag for the near term. _______UPDATE (July 19, 1:08 p.m.): Looks like our pair of targets (8.32/8.43) and recommendation to to take chips off the table played out perfectly. We now have a major pullback. We either bottom here or take out that key 6.36 C point and the gold and silver winter will continue for a while longer. _______UPDATE (July 23, 7;43 p.m.):  Click here for a bullish analysis of the stock at Seeking Alpha. Based on a recommendation I made in the chat room this morning, I am establishing a tracking position of 400 shares at 6.38. We remain 5.82 bid for 400 more, g-t-c. _______ UPDATE (July 25, 8:55 p.m.):  With the stock moving moderately higher off the recent low, cancel the 5.82 bid for now. _______ UPDATE (July 26, 7:27 p.m.): This chart makes me want to bail out and try to buy the stock for less later, but I don’t want to put subscribers who got in with me around 6.38 on a hair trigger.  We’ll take our lumps down to 6.11, the target shown, before we take another look. ______ UPDATE (July 30, 2018, 2:40 p.m.):  AG’s bounce precisely from p=6.41 on the hourly chart (A=6.92) could save us some bucks if the stock relapses. That’s because a decisive breach would very likely send AG down to D=6.11. Rather than ride our long position down to that price and take a 30-cent hit, I’ll now suggest stopping out the position at 6.35. We can re-buy it at 6.11 if the opportunity should arise.