ProShares Ultra Short Silver Ready For A Run Up?

Hi There, Folks! It is 5.30 pm in Bangalore, India, and 8 am in New York on Saturday, 20 July 2024.

Today, I would like to acknowledge my dear friend Bob D’s drawing my attention to what looks like a potential turn waiting to happen in ZSL.

ProShares UltraShort Silver (ZSL) is an ETF. It is a leveraged fund that seeks to meet its investment objective by investing under normal market conditions in any one of, or combinations of, Financial Instruments (including swap agreements, futures contracts, and forward contracts) based on the fund’s benchmark, the Bloomberg Silver Subindex. You can read more about this Fund here.

Bob is excited about this fund; I see some excellent signs supporting his view. Below are the charts that I would like to share with my readers. Enjoy, and share with your friends.

Finally, if you would like to learn how to generate consistent profits using Elliott Waves as a tool, you should check out my online course, “How to Profit From Elliott Waves.”

I hope you all have a great weekend ahead. Cheers and bye for now. Ramki