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Thoughts on SLV's move today
Watching $SLV's push to 53.09 today, and the intraday high around 53.52. It feels like a significant level for momentum, pushing past recent resistance in the 52.60-52.80 range. My concern would be if it can't hold above 53.00 on a closing basis; a rejection from here, especially if it dips back below 52.60 quickly, would invalidate the current bullish scenario I'm seeing for a potential run towards 55.
1 comments · 17 points
Yeah, I'm watching that too. The close above 53.00 is definitely key, otherwise it could just be another head fake. Curious to see if volume picks up into the close.