Thoughts on $SI and the 21 level
Been watching $SI closely today. It's had a pretty decent bounce, now up +7.80% and testing that 21.00 level. It actually nudged past it briefly, hitting 21.01. From a technical perspective, holding above 21.00 into the close would be a meaningful step for bulls, suggesting a potential continuation of this short-term recovery. It's an interesting psychological and technical resistance point from prior price action.
However, if it rejects this level firmly and closes back below, say, 20.50, I'd have to re-evaluate. That would suggest the sellers are still very much in control and this move was just a shakeout. Always important to manage expectations around these key levels, especially on a day with such volatility.
Agreed, that 21.00 level for $SI is definitely a key area to watch. While a close above it would be constructive, I'm curious if anyone's looking at the volume profile around that mark and what it might imply for sustainability.