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blackwell33
Aug 14, 2020 5:37 PM

SLV Coiling 

iShares Silver TrustArca

Description

After a big run up, SLV looks to be cooling off by showing us chopping sideways action. This is also forming a bull flag. As long as economic indicators remain, and silver continues to get mainstream attention to a slv:gld ratio deficit, then $29-$30 should be the next target. Neutral while this plays out. Long after an upside breakout.
Comments
EmptyEternity
What "economic indicators" are you referring to?
blackwell33
@EmptyEternity, mostly the actions of the Fed purchasing bonds and such- the devaluation of the USD currency.
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