SLV is the most recent target over the weekend of a WSB high short float name to pump. It has been battered over the past years and just recently got a revival push to 27 in late August. SLV may benefit from a broader selloff in equities as investors may flee towards commodity hedges, the USD, or longer term bonds. This play will be valid only if underlying macroeconomics signal to capital flowing out of equities. A hold of this trendline sets SLV up nicely for an entry in the 24-25 range with a short term target of the ATH at 27.44.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.