TradingView
Fibonacci43
Aug 11, 2020 2:57 PM

SLV support levels - Opportunity Long

iShares Silver TrustArca

Description

SLV currently sitting at strong support from 2011, 2012, 2013, with a big gap down to next major support level at $23-ish.

As long as Fed keeps promising to print money and dollar continues to look weak in the long term, I am loading up here. This pullback is very bullish and much needed, shaking out the weaker players.

Comment

OK, looks like we fell through support and went straight down to the 23-ish support level I mentioned earlier. Certainly buying more here. This is a gift.

Comment

We're sitting right at a major support level while DXY is dropping and Silver is rising. Next very solid support level is around 23.75. I'm definitely adding to my position here. The weekly chart is still on an uptrend as seen here:
Comments
comanderrich61
ya it is !
egillis214
New Fib Support Levels on my renko view...
Fibonacci43
@egillis214, Can you post a link
More