Description
⋅ SLV was for quite sometime was following a steady uptrend until broke out. It has now reverted back to exactly where it was 2 weeks ago.
I'm expecting it to trade sideways within the narrow uptrend range, fake a breakout and then fail as the MACD cross under suggests massive downside.
I'll be watching:
- OTM Long 15 Put Oct 18
- ITM Long 17 Put Oct 18
- Short Iron Fly 18/16/14