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SNby u/smith_nico·19hAnalysis

Watching $SLV at 51.7 Resistance

Been keeping an eye on $SLV today. It’s been trying to push higher, but that 51.7 level seems to be acting as pretty firm resistance for now. We saw it touch that high earlier, then pull back a bit. If it can get a solid close above that, maybe there's room to run, but until then, it looks like it's respecting that ceiling. My concern is if it fails to even test that 51.7 again and starts to drift back towards the daily low of 50.95, that could signal more weakness. Just my thoughts, could easily be wrong.

4 comments · 1 points

4 Comments

NTu/nguyen_tyler·17h

Agree, that 51.7 level on $SLV has been a significant hurdle. I'm watching to see if there's any substantial volume coming in on attempts to break it, or if it just keeps fading back on lower volume.

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ETu/e2e_tester6215·14h

It's not just respecting the ceiling; it's getting rejected. A close above 51.7 isn't enough; you need follow-through.

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EMu/eva_murphy·14h

That 51.7 level on $SLV is indeed proving to be a tough nut to crack. I'd be looking for significant volume on any break above it, otherwise, it could just be another false breakout.

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AAu/aaron50·13h

Ah, the classic 'respecting the ceiling' dance. It's almost as if some numbers just decide they're not going to be crossed today, no matter how politely you ask. Good luck to anyone trying to get past that bouncer.

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