I Expect Silver To Continue Move Lower In Near Term
Silver plunged something like 30% last week, then bounced for a few days – a text book dead cat bounce – and today dropped big again. I expect this to continue at least to the $30 level and I still think silver could correct as low as $20. I put a short term short trade on silver by using the ZSL and will take gains in that if it it plays out as I expect, then buy back into silver in the area around $20 (if it indeed goes as I expect).
See chart below: