sp'60min
sp'daily5
Summary
There is lots of econ-data this morning, so Mr Market will have all the excuses it needs to pick a direction..and run with it.
*in the previous 3 cycle peaks, we've seen sideways chop usually for 3-6 weeks, and we're only at week 2/3, depending on how you look at it.
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*I'm still long via SLV, but am looking to drop that today. Silver itself remains in an incredibly tight trading range. It could burst a little higher, only to get stuck at key resistance, and then collapse. A few daily closes >30/31 though, and 38/40 opens up...rather fast.
SLV, daily2
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meanwhile, USO - which I've also been meddling in (long) lately is still battling higher. I don't expect it to be able to break/hold over the mid 34s.
USO, daily2
Indeed, next week, I will look to be shorting USO down into April/May.