ZSL UltraShort Silver ETF Daily Chart Oversold Falling Wedge Positive Divergence

The inverse silver ETF continues to bottom. Keystone has liked this one from 10 and under, so he must love it at 9.18. The positive divergence remains (blue lines), as well as postive divegence on the weekly chart, and the falling blue wedges, as well as oversold stochastics and RSI, all point to price launching at any time, which would be in concert with the silver price falling.

The red lines show a potential inverted H&S that may be in progress now, using these current low prints at 9.18 as the head. A right shoulder will be needed moving forward so the chart can be monitored as the days and weeks play out. ZSL is an extremely dangerous ETF, and generally, you do not want to hold these for a long time.

Projection is a price bounce to occur at any time, inital target would be the gap fill at 9.7-ish, then a gap fill at 10.3-ish, then over time, an assessment of the potential 10.8-11.0 neckline can be made. 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 financial advisor before making any investment decision.