Using The Futures Low

It was a wild ride in overnight trading for most markets; silver was one of them.

The chart below shows what’s missing on the regular session.

A huge swing lower that bottomed out in the first 10-minutes, after the Sunday (futures) open.

There’s no real commentary on the chart; we’re just showing retrace levels.

Silver, SLV, Daily

It’s reasonable to expect, if silver continues to retrace higher, the miners (GDX, GDXJ, SILJ) will as well (not advice, not a recommendation).

With today’s session complete, SLV has made it back to the 38.2%, level.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279