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Rebound Expected In The iShares Silver Trust ETF (SLV)

June 12th, 2013

silver-etfTrading Central: From a technical view, the ETF is facing a key overlap which is acting as a major support (high of March 2008).

Regarding technical indicators, the weekly RSI is posting a tentative bullish divergence while it is strongly oversold.

On a relative basis against the IVV S&P500, the iShares Silver Trust has pushed above a declining trend line and it is shaping a base for a rebound.

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Trading strategy:
Buy @ $21.04 – Stop loss @ $20.15 – Target @ $25.25

Ratio SLV versus iShares IVV SP 500

REBOUND

silver chart

silver chart 1

Glossary

Bullish Divergence: This corresponds to a disconnection between the prices evolution and that of the indicator. One will thus consider a bullish divergence when the oscillator is following an upward trend started in the oversold area while prices are still falling. This phenomenon is directly linked to the derived function status of indicators. Indeed, an increase of the indicator while prices are declining indicates that this decline is pursuing at a lower pace. This breathlessness of the market then lets expect a reversal on the upside. RSI: (Relative Strength Index) a technical indicator which measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 – 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods


For more information on iShares ETF go to:
http://us.ishares.com/home.htm

Disclaimer

The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.

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NYSE:AGQ, NYSE:SLV


 

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