SIL Forecast + Trading Strategies




Price Forecast:


Bearish<->Bullish




Bullish Case: Current market indicators and subdued implied volatility suggest strong potential for SIL to rally, driven by increasing demand for silver in tech and industrial applications, boosting miner profitability.




Bearish Case: Macroeconomic pressures, such as rising interest rates, could suppress demand for silver and amplify downside risks, especially with high historical volatility signaling possible corrections ahead.




Potential Outcomes:

1. Price increase towards $45 (30% chance).

2. Consolidation around $39 with modest fluctuations (50% chance).

3. Decline to $34 due to bearish sentiment (20% chance).




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October 20, 2024


Global X Funds - Global X Silver Miners Forecast

SIL        Global X Funds - Global X Silver Miners











Correlated Assets

Assets that tend to move strongly with SIL



SILJ Forecast + Options Trading Strategies   SILJ  ETF Managers Group LLC - ETFMG Prime Junior Silver Miners (0.99)


GDXJ Forecast + Options Trading Strategies   GDXJ  VanEck Vectors Junior Gold Miners (0.98)


JNUG Forecast + Options Trading Strategies   JNUG  Direxion Daily Junior Gold Miners Index Bu (0.98)


HL Forecast + Options Trading Strategies   HL  Hecla Mining (0.95)


KGC Forecast + Options Trading Strategies   KGC  Kinross Gold (0.94)



Uncorrelated Assets

Assets with little price relationship to SIL



TTEK Forecast + Options Trading Strategies   TTEK  Tetra Tech (0.0)


UEC Forecast + Options Trading Strategies   UEC  Uranium Energy (-0.0)


CAH Forecast + Options Trading Strategies   CAH  Cardinal Health (0.0)


UNG Forecast + Options Trading Strategies   UNG  United States Commodity Funds (-0.0)


DAWN Forecast + Options Trading Strategies   DAWN  Day One Biopharmaceuticals (0.01)



Anticorrelated Assets

Assets that tend to move strongly against SIL



SPXS Forecast + Options Trading Strategies   SPXS  Direxion Daily S&P 500 Bear 3X Shares (-0.83)


SAGE Forecast + Options Trading Strategies   SAGE  Sage Therapeutics (-0.84)


PGNY Forecast + Options Trading Strategies   PGNY  Progyny (-0.85)


ZSL Forecast + Options Trading Strategies   ZSL  ProShares UltraShort Silver (-0.86)


APLS Forecast + Options Trading Strategies   APLS  Apellis Pharmaceuticals (-0.87)









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