Hey!
Silver went up almost 40% in three months this year, from may to august and it has corrected about 16% since then. So my general view is that it will eventually resume the uptrend and the important breakout it had in may.
I'm watching 15.6 for support, that area will be very important imo. I'm not expecting that we'll go straight down to that area but i think it'll work as a retest of the mentioned breakout.
If the support holds, i'll trade with the idea that Silver will eventually get to 25, which means that i'll start buying deeps. On the other hand, if it fails, that will indicate to me that more downtrend is the more likely scenario.
Cheers
Silver went up almost 40% in three months this year, from may to august and it has corrected about 16% since then. So my general view is that it will eventually resume the uptrend and the important breakout it had in may.
I'm watching 15.6 for support, that area will be very important imo. I'm not expecting that we'll go straight down to that area but i think it'll work as a retest of the mentioned breakout.
If the support holds, i'll trade with the idea that Silver will eventually get to 25, which means that i'll start buying deeps. On the other hand, if it fails, that will indicate to me that more downtrend is the more likely scenario.
Cheers