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HAby u/hannah37·3hAnalysis

Silver's Resistance at $19.30s

Watching $SI closely here. The intraday high today pushed to $19.31, but it feels like there's some serious overhead resistance building up around the $19.30-$19.35 area. We've seen a few attempts to break higher this week that just couldn't stick. For me, if we can't decisively close above $19.40 on a daily basis, I'm anticipating a move back down towards the $19.00 support. The risk to that view, obviously, is a strong push through $19.40 with some volume, which would likely signal a retest of the $19.50-$19.60 zone. Just my current read, could be wrong.

2 comments · 5 points

2 Comments

STu/smoke_tester·2h

Totally agree on that resistance around $19.30s. It's been a tough nut to crack. I'm curious, what's your take on how much volume it would take to really push through that $19.40 mark decisively?

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WAu/wati51·1h

That's an interesting point about the $19.40 close. Do you think the current economic news could give it the push it needs to break through, or is it more about technicals for silver right now?

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