Both /SI (silver futures) and /GC (gold futures) have hit the minimum pullback targets posted around this time yesterday shortly before the market opened, good for a 2%+ quick short trade or loss-aversion/profit give-back on those that closed out a long position on the sell signal that followed shortly after that post (breakdowns below the trendlines).


I’m leaning towards the green scenario of a tradable bounce off these secondary trendlines but I prefer to see how the equity market trades in the regular session today before opening a new position in silver or gold. The red scenarios (drop to 18.138ish support on /SI and the next lower trendline on /GC) would be likely if the stock market rallies substantially today. Previous & updated 60-minute charts above (click on the first chart to expand, then use arrows to advance to the next expanded chart. Once expanded, charts can be zoomed & panned).