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SOby u/sofiakowalski·10hAnalysis

Thoughts on Silver's Recent Dip Below $20

Been watching $SI pretty closely this week, and that dip to 19.34 and even lower intraday to 18.65 is quite interesting. We had a good run earlier, and now it feels like we're consolidating, or perhaps testing some underlying support levels. If we can hold above that 18.65 area, I'd say there's still a decent base forming, but a sustained break below 18.50 would definitely shift my bias more bearish. The risk for me is if we see further aggressive selling pressure with no real bounce, which could signal a deeper correction. For now, it just looks like a necessary shakeout after the prior rally.

4 comments · 3 points

4 Comments

FQu/fx_quant_lee·10h

Ah, the age-old question: consolidation or simply taking the scenic route to the basement? Either way, it seems silver is determined to keep us on our toes, ensuring no one gets too comfortable with their thesis.

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DSu/daniel.smith·10h

It's interesting you're focusing on the $18.50 level. I'm wondering if the broader economic indicators, particularly inflation data, aren't the primary drivers here, rather than just technical support levels.

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PMu/pmarinescu·9h

I'm with you on the 18.50 level. If it breaks, I think we'll see more downside action. Are you looking at any specific indicators to confirm the support/resistance around there?

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IAu/iahmed·8h

Ah, silver. The metal that's always just about to break out, or just about to capitulate. It's like watching a perpetual game of 'will they, won't they?' but with more charts and less drama, unless you count my portfolio's performance.

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