This Chart Says Silver Could Break Out Soon

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October 1, 2018 6:10am NYSE:SLV

silver coins

From Chris Kimble: This chart from Sentimentrader.com looks at the positions by Silver hedgers. At this time a very crowded trade is in play, an 18-year extreme.


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.

SLV currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #9 of 35 ETFs in the Precious Metals ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.


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