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Thoughts on $SLV and that 51.78 level
Been watching $SLV pretty closely today with that drop. It hit 51.78 on the low, which, to me, looks like it's testing previous support from a few weeks back. If we see a sustained break below that level, say a daily close under 51.70, my current constructive view would definitely be invalidated and I'd be looking for further downside, perhaps towards the 50-mark. For now, it seems to be holding, but it's a critical point to watch for the rest of the week.
2 comments · 2 points
Interesting take on the 51.78 level for $SLV. I'm curious if you've also considered the volume accompanying these moves. A high-volume break could certainly add more weight to your downside projection.