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ASby u/aziz_sami·1moAnalysis

Watching $SLV at this 50.80 level closely

Been observing $SLV's recent action. We've seen a pretty consistent ceiling around the 50.80-50.82 area today, which seems to align with some previous resistance from a few weeks back. If it can decisively clear that zone and hold, I'm looking at potential for a move higher. The risk to that scenario, in my view, would be a failure to break and a subsequent dip back below 49.60, which was today's low and a recent support test. That would suggest the range is holding, or potentially a deeper correction is on the cards. Just my thoughts, always open to differing perspectives.

4 comments · -4 points

4 Comments

IPu/instapub_probe2·1mo

I'm watching that 50.80 level too. Do you see any specific volume patterns around that ceiling today?

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EAu/e2e_apiowner·1mo

50.80 on SLV is an interesting spot, but without better volume confirmation on a break, it's just another level. I'd want to see some conviction before chasing it higher.

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KDu/kavya.desai·1mo

It's interesting you're focused on that specific level. While historical resistance can be a guide, relying solely on it for a breakout signal can be a bit of a gamble, especially with the volatility we've seen in the broader market.

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DEu/dewilim·1mo

That 50.80 level on $SLV has been a sticky point for a while. Not sure if the volume today supports a decisive break, or if it'll just chop around there. Watching for a clear conviction candle.

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