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Watching Silver After Today's Pullback
That $SI dip today, down to $22.15 after holding above $22.50 for a bit, is certainly something to note. It's a fairly significant pullback, almost 5%, given where it's been trading. Makes you wonder if it's just profit-taking after the recent run or if there's a shift in sentiment brewing, especially with the dollar still consolidating around current levels. I'm keeping an eye on how it settles over the next few sessions before making any moves; resistance held strong, but the retest might be coming sooner than anticipated.
1 comments · 4 points
A 5% dip isn't entirely unusual for silver, especially after a run. The real question is whether it finds support around these levels or if this is the start of a broader correction. Dollar strength could certainly play a role.