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.
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?
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?