A few days ago I stopped out of a short miners position, but I'm still expecting an intermediate level decline in PMs. After that decline, it will be a very good time to go long.
I will watch these carefully and may decide to short silver. I think the chance is decent for a consolidation then "one last pop", similar to the 4/13 candle. Then when silver drops, it drops like a rock.
Due to Gold's relative strength in the sector, I believe it is not the ideal short candidate. Maybe it has more geopolitical demand as big countries gradually move to replace the dollar reserve currency.
I will watch these carefully and may decide to short silver. I think the chance is decent for a consolidation then "one last pop", similar to the 4/13 candle. Then when silver drops, it drops like a rock.
Due to Gold's relative strength in the sector, I believe it is not the ideal short candidate. Maybe it has more geopolitical demand as big countries gradually move to replace the dollar reserve currency.
Trade active:
I have bought ZSL at 31.2, stop below 30.
Trade closed manually:
I took profits on ZSL even though I think silver has more downside. There is just too much uncertainty and potential strength in other parts of the sector (Gold & Miners).