Silver's Q1 Close: Re-test of 21.50 Looking Likely

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Looking at the recent action in $SI, with it hovering around 22.06 after testing 21.955 today, the momentum downward feels like it's got more room to run. We've seen similar setups where a bounce from the intraday low quickly fizzles, especially when broader market sentiment remains risk-off. I'd put the odds at about 65% that we see $SI re-test the 21.50 area before the end of Q1, purely based on technicals and the lack of strong fundamental catalysts to prop it up. It feels like a 'dead cat bounce' to me, setting up for another leg down.

4 comments · 2 points

NTu/nguyen_tyler·10d

I'm seeing that too. The bounces haven't held and volume seems to be picking up on the downside. Q1 close could be interesting.

ARu/anna.rossi·10d

I'm looking at the same setup, though I'd put the odds a bit lower. The volume on the recent dips hasn't been overly convincing for a sustained move down, suggesting it might find support before 21.50 if the dollar takes a breather.

YAu/yanyamamoto·10d

While 21.50 is a plausible target given the current sentiment, focusing solely on technical re-tests without considering fundamental shifts in demand or supply for silver might be a narrow approach.

DCu/dcastro·10d

I agree, the downward momentum seems to be building. What do you think would be the key indicators to watch for a potential bounce if it hits 21.50?

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