News this morning out on CNN that Reddit mania is now focussed on Silver. This is an ambitious move as playing with silver is a dangerous game. The reason being that it's a global market, with powerful players, with deep pockets. Having said that, it will be interesting to see a global mobilization of Reddit and other activist trading groups and if they are able to exactly exert real market pressure on markets at scale globally.
Either way, silver looks set to be a long day trade according to both the intraday technicals as well as the primary driver being the news and hype on Silver. that will surely develop over the trading day.
Caution: Big chance of high volatility and sharp reversals.:
Day Trade Idea: Silver Long 29.550 - 29.750 +
!. Technicals very bullish on intraday charts
2. Reddit army seems to be targeting Silver
3. Cnn has a headline front page about the above.
4. I think that will mobilize Reddit mania.
This is not advise to trade or enter any position based on my analysis.
Either way, silver looks set to be a long day trade according to both the intraday technicals as well as the primary driver being the news and hype on Silver. that will surely develop over the trading day.
Caution: Big chance of high volatility and sharp reversals.:
Day Trade Idea: Silver Long 29.550 - 29.750 +
!. Technicals very bullish on intraday charts
2. Reddit army seems to be targeting Silver
3. Cnn has a headline front page about the above.
4. I think that will mobilize Reddit mania.
This is not advise to trade or enter any position based on my analysis.
Trade active:
Silver breaking out it seems.
Trade closed: target reached:
Target was reached at the previous high 29.900