Short SL1! / SILVER
Updated
short at $14.17
Silver had a strong bounce as did the overall market SPX, DJI but it is now range bound still in a down trend on the weekly stocks such as PAAS are selling off as people don't want to have exposure over the weekend and are being more risk adverse.
As we trade below point of control at $14.35 and have declining volume I anticipate that we will break down over the weekend and the upcoming week will have a sell off as the Covid19 out break worsens in the US and confidence in the market/economy weakens.
Silver had a strong bounce as did the overall market SPX, DJI but it is now range bound still in a down trend on the weekly stocks such as PAAS are selling off as people don't want to have exposure over the weekend and are being more risk adverse.
As we trade below point of control at $14.35 and have declining volume I anticipate that we will break down over the weekend and the upcoming week will have a sell off as the Covid19 out break worsens in the US and confidence in the market/economy weakens.
Note
break down occurred, consolidation happened but was stopped out at 14.35 as pivot point held. booking a loss
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