Wednesday, May 31, 2006


Here is an hourly chart showing pit and electronic trading in July silver futures. I last discussed silver here.

I thought that silver would rally up to 1375 or so before turning lower but in the event the market only could make it to 1336. Now I think the three phase rally is over and that silver is headed for the 3 and 1/8 multiple of the 351 low which stands at 1097.

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