If history is a guide, Silver is currently closer to a short-term low than a high.
Silver, Gold and Mining stocks have not had much fun this year, as all have declined a large percentage. The declines in Silver and the SLV/GLD ratio have created potentially bullish falling wedge patterns over the past few months.
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This week SLV and SLV/GLD are working on short-term breakouts, while momentum is deeply oversold.
Sure haven’t seen this price action in a while! Hi-Yo Silver Time? Sure could be!
If you are interested in taking advantage of the opportunities in Gold, Silver and Minning stocks at this time, give our Metals report a try!
The iShares Silver Trust ETF (SLV) fell $0.04 (-0.29%) in premarket trading Monday. Year-to-date, SLV has declined -14.13%, versus a 9.38% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Kimble Charting Solutions.