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Ganbu

LONG SLV (iShares Silver Trust) - very bullish!

Long
iShares Silver Trust (AMEX:SLV)  
Ganbu Updated   
AMEX:SLV   iShares Silver Trust
Trend Analysis Chart Patterns Fundamental Analysis SLV Silver ishares Gold goldusd
6
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trendanalysis chartpattern fundamental slv silver ishares gold goldusd
SLV price action is showing a strong bullish flag on the monthly time-frame. Due to the macroeconomic environment, very high inflation rates, and high gold:silver ratio, I am expecting the SLV price to break the bullish flag on the upwards side. If this happens, we can look at the following levels for taking profit:

Take profit level 1: $22.35
Take profit level 2: $24.48
Take profit level 3: $26.44
Take profit level 4: $27.80
Take profit level 5: $31.08
Take profit level 6: $33.00

Those levels were drawn in accordance to various resistance levels.

Good luck,
Your Ganbu

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Comment:
Trade's developing according to plan.
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