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.
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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.
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SLR Chart, page-855
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 (20min delay)
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Last
$1.54 |
Change
-0.015(0.97%) |
Mkt cap ! $1.434B | |||
| Open | High | Low | Value | Volume |
| $1.51 | $1.56 | $1.51 | $5.528M | 3.601M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 20739 | $1.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.54 | 27975 | 2 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$1.53 |
Change
-0.015 ( 1.78 %) |
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| Open | High | Low | Volume | ||
| $1.52 | $1.56 | $1.51 | 1424629 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| SLR (ASX) Chart |