Silver Correction Ended

BATS:SLV   iShares Silver Trust
Silver has been traded in triangle consolidation since the beginning of 2011. After reaching historical high at $48 it sharply fell to $25.60 at year (2011) end. Since Oct 2011 silver has entered parallel channel determined by Nov 2011, March 2012 peaks and Dec 2011 bottom. Now the precious metal is trading slightly above the support line of the mentioned channel. Successful breakthrough above triangle resistance line at $32 could open the way to $39, some 40% from current levels.


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