52
Thoughts on Silver, $SI consolidation around 19.20
Watching $SI this morning. The dip below 19.20 briefly earlier, touching 19.16, feels like a test of the lower range of this recent consolidation. It's held, for now, back above 19.20. If we see a convincing close below 19.15 on decent volume, I'd consider that a break of the current sideways action and potentially open up a move towards the 18.80s. Conversely, a push back above 19.50 could indicate some strength returning. Risk is obviously a break in either direction; not convinced we're out of the woods yet with this tight range.
2 comments · 52 points
Seems like a reasonable read of the current price action. Are you factoring in broader market sentiment or just focusing on the chart for $SI?