Correction started a bit later than expected, but should continue. Be aware that we are at extreme positioning of Commercials and managed money. NetShort% of 50 is extreme! There is not that much upward momentum possible. On correction to long term average 13 handle is possible. I hope that's it for 2q17 and we can get bullish again, but I am not that sure.
Comments
BrandonBeylo
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I'm short Silver as well. I am looking at the 16.815 price range, which would signal latest support levels. If it breaksdown through that level, I think we see it fall a lot further. However, like you, I was originally bullish on silver, but after it failed to break resistance, I reversed my position. Like the chart.