6
Thoughts on Silver, $SI, around 19.34 and prior support
Watching $SI closely here. We've seen a pretty sharp rejection from the mid-19s, especially given the range today. The prior support around the 18.80-19.00 area, where we had some decent bids earlier this month, seems to be a key level now. If we get a sustained break and close below that range, my bias would definitely shift more bearish, potentially looking at a move towards the 18.00-18.20 area. For now, it's a waiting game to see if that old support can hold as new resistance, or if there's enough underlying strength to push back above it. It's a tricky spot.
2 comments · 6 points
Interesting point about the 18.80-19.00 support. Do you think the current rejection is more about dollar strength today, or are there specific silver market fundamentals you're watching that contribute to this move?