/SI (silver futures) has hit the first target (18ish support) for a quick 4.5% gain following yesterday’s breakdown with the next sell signal to come on a solid break below this morning’s low. Monday’s 60-minute chart with the setup below, followed by this morning’s updated chart.
SI 60m June 1st
SI 60m June 3rd
ZSL (2x bearish/short silver ETF) is testing the 20.85ish resistance level following a pre-market breakout above the bullish falling wedge pattern as silver futures are trading on the first pullback target (18ish support). With /SI at support & ZSL at resistance, any solid break below/above those levels will provide the next objective entry or add-on to a short on silver via /SI, SLV, ZSL or DSLV (3x bearish silver ETF). You would buy or go LONG the latter two in order to short silver. Yesterday’s 60-minute chart of ZSL below followed by today’s updated chart.
ZSL 60m June 2nd
ZSL 60m June 3rd