The Silver market is looking to set up for a rebound. Currently, the market is trading 10 cents positive. The big news is that Senate extended the debit limit by two more months. I think President Biden will get his bill passed down the road, and there may be an inflation pressure around the corner. Current price action will probably invite some bargain hunters to get involved on the long side at these price levels.
The technical landscape slightly tilted in favor of the bull camp. A close over 23.00 will signal near-term lows are in but do not rule out a “break to the downside below 20.00” and a subsequent reversal. Markets tend to do this when they are confirming lows. Reach out to me if you want to approach this market using options. Also, there is a mini contract for silver if you’re going to test the waters.