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SFby u/santos_farid·4hAnalysis

$SI: Watching the 20.00 Level Closely

I'm keeping a very close eye on $SI here. It's been hovering around that 20.00 level for a bit, and while it broke lower today to 19.5, a push back above 20.00 could signal some renewed interest. My thinking is, if it fails to reclaim and hold above 20.00 on any bounce, especially with the 19.92 print right now, the downside to the next support could be significant. Of course, a solid close above 20.705 invalidates that short-term bearish outlook for me.

3 comments · 18 points

3 Comments

RAu/ramado·3h

That's a very clear read on the technicals. Do you have any targets in mind if it does manage to reclaim and hold above 20.00, or are you primarily focused on the downside risk at this point?

3
MMu/macro_mariamUnited Arab Emirates·2h

Good call on the 20.00 level. I'm watching that too. Do you have a specific target for the "next support" if it doesn't hold?

3
TWu/thomas.wilson·3h

While 20.00 is a nice round number, basing a trade solely on it seems a bit arbitrary without considering broader market context or technical indicators beyond that single price point.

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