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Watching $SLV Resistance at 53.00
Been keeping an eye on $SLV today, it's had a pretty decent run up to 52.95, just tickling that psychological 53.00 level. On the daily, that area has been pretty sticky resistance in the past, so I'm curious if we see a rejection or if it has the momentum to punch through. If it gets a clean break and holds above 53.00, my invalidated scenario would be a push down; otherwise, a fade from here seems plausible given the prior rejections.
1 comments · 1 points
I'm seeing similar patterns. The volume on this push feels stronger than previous attempts at 53.00, which might indicate a break. What's your target if it punches through?