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Silver's Recent Dip and Potential Range
Seeing $SI drop to 19.92 today, after flirting with 20.705 earlier, raises questions about its immediate floor. Given the broader macro headwinds and a stronger dollar, I'd put the odds at about 60% that we see $SI retest the 19.50 level by end-of-day tomorrow. If that support holds, we might then establish a new range, but a break below could see it heading towards 19.20 quite quickly.
1 comments · 7 points
That's an interesting take on silver's movement. What indicators are you looking at that point to a 60% chance of retesting 19.50? I'm trying to learn how to better assess these short-term probabilities.