$iShares Silver Trust (SLV.US)$ I had previously covered th...
$iShares Silver Trust (SLV.US)$ I had previously covered the huge symmetrical triangle on SLV, whose target is still ~35. Note the demand zone in green (box).
This looks as though it may be trying to fill the daily gap down to 26.22, which also happens to be in the demand zone. This could technically go as low as ~23.50 and still be in demand, although my guess would be it would reverse upwards before then. It really depends on what DXY does. DXY IS getting close to the monthly base line of Ichimoku and the upper Bollinger band as well as the supply zone, so if it starts to reject precious metals should rebound.
The falling wedge breakout target is a minimum move of 1.40 to the upside from wherever it breaks out. I am contemplating selling a cash secured put on this. Derpy Trades
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Just a dude highly interested in the financial markets who wants to share helpful info along the journey.
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