SIN23 – July Silver (Last:23.90)

Last week’s plunge precisely to the red line, a midpoint Hidden Pivot support at 23.95, has validated the pattern and its 21.46 target. This is not necessarily as bearish as it sounds, since the futures will need to exceed p decisively, then close beneath it for at least two consecutive days, to imply they are bound for p2=22.704.  For now , however, they would become a spec buy using an rABC trigger, since the midpoint pivot is always a logical place for a price reversal. Please nudge me in the chat room at the appropriate time if you are interested. ______ UPDATE (May 16, 6:13 p.m.): Sinking, soon to drop off the edge.