$SLV forming nice bull pennant on weekly
Updated
SLV looks primed to break out if it can hold the VWAP anchored off the March lows. Nearing the pennant convergence, declining volume, and clearly formed pennant. I entered some long June 2021 $21 calls today. Will add more if it breaks out of the pennant as I anticipate that it will. Note
Breakout and a quick backtest. In some long June 2021 calls. Still leery of an overall left tail/ deflationary event, so I may look to take some profit on these in the near term and focus my capital on IWM puts.
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