P1 Trade Alert: The Setup We've Been Waiting for in Silver (SLV)

Silver's run from the high-teens to a $109.83 blow-off top was parabolic, and the ~49% slide back to the mid-$50s is the unwind of that excess — now stretched to the downside.

Regime Read

• Trend: Long-term uptrend intact (price well above the rising 150-week EMA ~$42), but in a sharp medium-term correction — SLV is below its 5/10/20/50 averages (clustered ~$61–68 overhead).

• Momentum: Still pointed down — the TTM squeeze histogram is deep red and the day was −4.5%. But the move is stretched/oversold (Ready-Aim-Fire at −1.95), which is where mean-reversion bounces tend to begin once selling exhausts.

• Context: Consistent with this week’s markets note — silver was the most oversold metal (a dollar-driven overshoot). Selling premium into that overshoot, at support, is the disciplined way to play it.

The Trade: