I think SLV retraces from here down to the $20.18 fib. Trend looks bullish but pullback is needed before continuing the trend. Also, this range has been a major resistance twice before
Went oversold into a range that has been supported twice in the last year. Latest low is higher than the last, & the current channel looks bullish. Obviously banks are in trouble but I think we get a cash injection pump to at least the $33.57 fib. This is a risky play, but the TA supports it. A small position wouldn't hurt! Best of luck & God bless!
On Monday, I said it wouldn't cross $287 & it did... good thing we went into the $280 strike. Same thing today, we think $279 holds by the Friday close, but to be safe, we're selling the $268 strike. Again, our strategy is bullish, and it's based on the many retracements that are in the way before our strike is reached. Algorithms love trading retracements, and...
I'm going to start posting my 2-day spreads on here... I don't think it'll cross $287 by the 5/13 expiration, but to play it safe (because we're not greedy) I'm selling the $280 strike. This is a bullish play because there are a ton of retracement levels below our current price.
Note: Market trend is looking very bullish at the moment, but equities are...
Last week, I mentioned 2850 being a place to short only if it rejected nicely... We closed above that today & that opens up a rally to next resistance at 2934. That is a 38.2% retracement and I believe it's a great short, again, only if rejection is clear. The bulls are always running the show, so don't be surprised if it's pumped above that level. Short at will &...
They're guna pump this next week giving us a window to short at 2850-2890 range. Short at will & take profits early... Anything beyond this range takes us to 3000, but if the rejection is clear we're going way down.
Two things to consider: 1. The virus is still alive & well 2. The Fed is pumping
Good luck out there! Trade well, not often!
