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)


MAG Forecast + Options Trading Strategies   MAG  MAG Silver (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)



Uncorrelated Assets

Assets with little price relationship to SIL



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


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


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


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


CTAS Forecast + Options Trading Strategies   CTAS  Cintas (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against SIL



DV Forecast + Options Trading Strategies   DV  DoubleVerify (-0.83)


SDS Forecast + Options Trading Strategies   SDS  ProShares UltraShort S&P500 (-0.83)


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


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


GLL Forecast + Options Trading Strategies   GLL  ProShares UltraShort Gold (-0.9)









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