On adage that I have followed for years is if you can buy at or below a rising trend, then over time, you can profit. SLV is at that point now, the 20 week moving average is rising. This moving average is rising 9 cents a week or in other terms, better than 0.5% per week. For those who are longer term bullish on silver, this is a good place to place or add to a position.
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As posted above, my expectations for the trend line advancing on average 9 cents a week, my initial estimate is that by Jan 2020 option expiration date, the trend should be right around 16.85. The projection shown here moves price above $17. With this estimate, I purchased a lot of Jan 2020 15-17 calls for 80 cents. Should net at least a double if my projection holds.
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Price getting back on track
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Well the moving average moderated but here we are on Jan options expiration date. I had predicted 16.85 per the moving average. at 16.88 here getting close to close. While I traded out of the 15-17 spread getting above the 1.85 I had hoped to win, it was a good play all the way to the end, delivering on the analysis