$SLV three possible outcomes, all lead to lower prices?
Mis à jour
While many people have started to turn bullish on 
SLV, stating it's undervalued (which it very well may be), looking at the chart tells a different story. If you zoom out, SLV looks to be correcting still.
I see three possibilities in price action from here, and all lead to lower prices in SLV.
While there may be a squeeze higher in the short term, I can't really see price getting above the $24 level. If we were to reject there, or below that level, it sets up the stage for a sharp move lower, somewhere into the $13-16 range. I've put key levels of support on the chart on the way down. I see this move taking the next 2-3 years to fully play out, and if it does, that would be a great range to buy for the long term as I'd expect SLV to finally breakout of a 10yr+ bear market afterwards.
SLV, stating it's undervalued (which it very well may be), looking at the chart tells a different story. If you zoom out, SLV looks to be correcting still.I see three possibilities in price action from here, and all lead to lower prices in SLV.
While there may be a squeeze higher in the short term, I can't really see price getting above the $24 level. If we were to reject there, or below that level, it sets up the stage for a sharp move lower, somewhere into the $13-16 range. I've put key levels of support on the chart on the way down. I see this move taking the next 2-3 years to fully play out, and if it does, that would be a great range to buy for the long term as I'd expect SLV to finally breakout of a 10yr+ bear market afterwards.
Commentaire
Almost to the $16.57 support now. Let's see if we go lower or hold this support for a bounce
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