Gold, Silver, & SOXX

Both gold and silver futures have opened lower.

Looking at the silver contract, SIU25, it shows the past two weeks have closed lower.

Last week’s session low was 38.1.

Tonight’s session low (as of 7:38 p.m., EST) is just ticks away at 38.135.

While gold and silver appear to be under some pressure, there’s no definitive trade setup (an opinion), so, we’re going to focus instead on the A.I., mania sector, the SOXX.

Semiconductors, SOXX, Daily Close

The most recent recovery high and short set-up has already been covered here and here (not advice, not a recommendation).

What the chart shows, is the reasonable expectation, either the SOXX, is going to test resistance (moving higher) like Carvana did, link here, or down to test support.

Currently positioned short as SOXX-25-08 (not advice, not a recommendation).

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.

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