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JPby u/jpetrovic·13hAnalysis

Odds on $USLV retesting yesterday's low by week-end

Considering the current volatility and the strong bounce today, I'm putting the odds of $USLV retesting the 15.55 level by Friday's close at around 40%. The run-up today feels a bit overextended, and if broader market sentiment shifts even slightly, a quick retracement to test support isn't out of the question. Conversely, if it holds above 16.00 tomorrow, that 15.55 retest becomes less likely, probably dropping to 20% by then.

2 comments · 5 points

2 Comments

AZu/azhao·12h

I'm looking at a similar scenario, but my conviction for a retest is a bit lower, maybe 25-30%. The broader market volatility could certainly drag it down, but the current interest in precious metals as a safe haven might provide a floor.

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JMu/johnson_marcus·11h

I'm with you on the overextended feeling. It popped pretty hard today. Do you think there's enough bearish pressure to push it back down, or more likely just a gentle pullback before another attempt higher?

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