“Yields Reverse Early Fall, 5% Nears With Fed Hike Locked, Oil Drops As Markets Rally”
$SLVBearish
SLV needs to hold 6375; breaking this level signals a drop to recent lows.
Same thing for silver. Silver was able to get a small gain and save itself today breaking back or holding this trend line. But again, same thing, shoulder, head and shoulder. You got to hold the 6375 level on silver.
All right. And again, if these two levels break on gold and silver, the calculated target is basically back to their recent lows from earlier this year. So, you're talking about a significant move to the downside should these names break these levels.
What they said to watch for