$SIK25 – May Silver (Last:33.010)

The pattern shown, with a big-picture rally target at 35.445, has kept us in close harmony with the trend, but it never promised much satisfaction. Pullbacks haven’t been sufficiently robust to trigger any ‘mechanical’ buys, and a short from d is unappealing because the target coincides with some prior peaks that are certain to attract a crowd. That doesn’t mean the pattern is untradable, but it takes work. Mainly, it’s a matter of hunkering down on the lesser charts to derive entry triggers from them.  The daily chart yielded up a fat-looking one at 32.565, but the turn from 15 cents above it suggests it may have had a fan club.

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