SIU24 – Sep Silver (Last:31.69)

Bulls took charge last week, a development I had not expected so soon. An all but certain test of the midpoint resistance at p=32.150 seemed assured when the futures ended the week an inch off the intraday high.  The pattern looks too obvious to yield a very tightly stopped short, but price action at the midpoint Hidden Pivot cannot but give us a firm handle on trend strength. If the Auggies pop through the resistance and close above it for two consecutive weeks, they’ll be well on their way to delivering D=35.40 before summer ends.