ZSL Ultra Short Silver Daily Chart Oversold Falling Wedge Positive Divergence

ZSL ultra short silver moves inverse to the silver price. The continual downward move on this chart is in sync with the up move in silver. Now, with positive divergence, a falling blue wedge and oversold conditions, an initial pop off this bottom would be forecasted and has occurred the last three days. A chart like this that has been beaten so badly typically does not turn on a dime and a move to match the previous low would be anticipated that will set up another nice bounce.

Note the huge buying volume interest the last three days. Many traders all have the same idea--that silver has topped and is about to have a religious experience. Typically, that means it is not quite ready yet to make the extended move up and this thought reinforces the projection for price to allow another entry in the 19.30-19.50 area. Rest assured, silver is topping now, so ZSL is ready to rock higher. Note the prior red falling wedge behavior that rewarded nimble traders that understand positive divergence.

Projection is up and away for ZSL but perhaps the best entry will come as silver hits the 42+ level. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.