Bullish Sil
Not financial or trading advice!
Entry: $30
Stop: $21.50
Target $55
Risk/Reward: 1/3
I am long term bullish silver via the SIL. Given recent CB policy and other fundamentals I believe that precious metals have further to go higher. Gold has run recently althought pulled back. GDX appears possitioned to break out of a multi-year base. Silver seems to be a laggard. However should Gold continue higher and GDX breakout, silver should run higher as well. You can wait for the break of the patterns or for confirmation via GDX or Gold.
My preferred way to play this trade would be with long dated options. Buying the 1/21/22 call. The reason I prefer long dated options is should I be wrong on the breakout, it will leave us with time to wait for the bull move to begin or with the flexibility to get out at an acceptable loss. We can also hold on or roll up protection to continue the move higher.
Entry: $30
Stop: $21.50
Target $55
Risk/Reward: 1/3
I am long term bullish silver via the SIL. Given recent CB policy and other fundamentals I believe that precious metals have further to go higher. Gold has run recently althought pulled back. GDX appears possitioned to break out of a multi-year base. Silver seems to be a laggard. However should Gold continue higher and GDX breakout, silver should run higher as well. You can wait for the break of the patterns or for confirmation via GDX or Gold.
My preferred way to play this trade would be with long dated options. Buying the 1/21/22 call. The reason I prefer long dated options is should I be wrong on the breakout, it will leave us with time to wait for the bull move to begin or with the flexibility to get out at an acceptable loss. We can also hold on or roll up protection to continue the move higher.
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