goodguy
Long

Silver about to advance? I think it is likely

AMEX:SLV   ISHARES SILVER TRUST
68 2 3
Since my last post on SLV             the target box has been hit. (see link below). There has been a 50% retracement in price back to the shorter terrm dotted down trend line. In a shorter time frame the form looks like a a-b-c formation. The RSI is now the most oversold sinc last November when silver             was near its bottom and a positive reversal has developed in the RSI . Its possible the price could drop down to the longer term down trend line.but I favor it will not. A break out of the short term down channel would confirm this idea and I think lead to a excellent rise in silver             . Take care. Have a great weekend.
pmcllc PRO
6 months ago
Short entry at 17??
Reply
goodguy PRO pmcllc
6 months ago
Could be some pullback at that level. But I would not short myself as I suspect it to go much higher. Good luck to you.
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