SwingTrader95

SLV WAIT FOR CONFIRM SHORT OR LONG POSSIBLE

AMEX:SLV   iShares Silver Trust
SLV false breakout or sideways pattern possibility, wait 2 days. This could be a false breakout, making a SHORT possible in the next 2 days, based on the Intermediate Resistance turned Support level at 15.20(BLUE), based on 4 hits. Otherwise it indicates a LONG toward the next resistance level at 15.90(YELLOW), based on a sideways pattern occurring from Feb `18 to Jun `18 until it broke out. In the case of SHORT watch for Support level 14.80(ORANGE) based on 3 previous hits, and a lower return back to the 1-year major trend-line (WHITE). Shorting possibly all the way down to 14.05.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.