You may be right about the retest. The SLR chart is still OK - at least in the medium term. The falling trend is still dominant. Gold has held the current USD price level for more than 2 weeks and has varied around $20 since the 16th. SLR is a victim of a regulation shakeout. A lot of negative articles but very few calls for a much lower gold price which is rather peculiar. My trading chart shows SLR sitting firmly on support though was close to breaking today. If SLR had held around $1.62 then a future breakout would have been easier to achieve. As it is buyers may be somewhat exhausted by the time SLR hits resistance. . . My short term chart clearly shows SLR in a down trend once support was taken out. This is a capitulation rather than a down trend as there has been no test of resistance. Closing market pop suggests a low could be in. Closing closer to the high for the day rather than the low. Been wrong before and could be again. .
SLR Price at posting:
$1.45 Sentiment: Buy Disclosure: Held