It seems to me that SLV has bottomed the past few trading sessions and is setting up for a move higher. Here is the chart.
SLV has taken a beating lately. And although I am aware that paper silver isn't real, I still think there is profit to be made. The RSI tells me its really oversold right now and as you can see from the chart, today was an up day and SLV has stopped going down.
The last time this happened was a few months ago when it went from 16 to 17.5.
I will most likely be trading this tomorrow or sometime soon depending on how the price action continues and I will most likely buy august or september calls and possibly a put to hedge myself. If SLV keeps going down, it's fine by me. Ill be hedged AND that just means I can get metals for cheaper prices so either way its a win.
Thank you all for reading! Please upvote/resteem if you agree!