💿 iShares Silver Trust | Aims $26, $33 and $44

iShares Silver Trust (SLV) is developing a strong bullish bias based on this long-term, monthly, chart.

First, Silver peaked in April 2011 (left side of the chart).
This is followed by a strong bear market that hit a low in December 2015.
This low is tested again March 2020 thanks to Covid.

The whole period from late 2015 to early 2020 can be considered a consolidation phase.

After the March 2020 low, which set the lowest price since February 2009, a new bullish wave develops.

With a higher low set in September 2022 and now strong bullish action/signals developing, Silver is aiming at a higher high.

The targets based on Fib. proportions together with EW theory go as follow:

1) $23.4
2) $29.6
3) $33.3
4) $43.8

This setup is invalidated with a monthly close below $13.0.

This is super-long-term.

Thank you for reading.

Namaste.

Comment:

1) $23.4 |Target hit April 2023
2) $29.6 |Next target...
3) $33.3
4) $43.8