ZSL UltraShort Silver Weekly Chart Falling Wedge Oversold Positive Divergence

ZSL is a double inverse ETF which moves two times the direction of the silver price in the opposite direction.  In other words, shorting silver.  The commodities are a wild and crazy sandbox to play in with derivatives stacked on derivatives, millions of dollars riding on a bushel of apples or a glass of orange juice.  The PM's, especially gold and silver have enjoyed lots of love in recent years with the Fed easing destroying the dollars value.  ZSL is setting up nicely, however, with positive divergence on the daily and weekly charts.  The circle shows the launch pad area.  Keystone's 80/20 rule says 42 leads to 38 so the door must be left open to a possible move to 37.7-38.5 which would be an ideal entry. ZSL has been basing nicely already, however, and as far as the charts go, they are not especially concerned about price moving down further.  Price just filled the lower gap on the daily chart which closes up all the unfinished business down below so it would not be suprising to see ZSL jump higher at any time.

Shorting silver is a highly dangerous and speculative trade. Nurse Cratchett has provided a stretcher and says she will help carry Keystone out, if needed.  Projection is for a sharp bounce higher which means the silver price should take a hit. Keystone entered ZSL long and will add as time goes by, or, if she pops, simply take the money and run. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.