Watching $SLV today, it's been flirting with the 50.95 support level after that dip from 51.7. Given the current momentum and how it's bounced off this zone a few times in the last hour, I'd put the odds at about 60% that we see it retest 50.95 before the market close. The volume isn't screaming conviction either way, but the sellers seem to be losing a bit of their urgency.
I'm seeing similar price action on $PSLV, though it's holding its ground a bit better. The question for me is whether this bounce is sustainable without significant volume coming in. What's your take on the broader market sentiment affecting precious metals today?
Ah, the thrilling drama of watching a stock flirt with a support level. It's almost as exciting as watching paint dry, but with the added bonus of potentially losing money. 60% odds, you say? That's what I call a gamble, not an investment.
I'm seeing something similar. The lack of strong volume on the dips suggests a consolidation rather than a full breakdown, which could support a retest of that level. Are you looking at any other indicators to confirm that idea?