New Trading Target for SLV

by Sam Collins | July 26, 2011 5:38 am

iShares Silver Trust (NYSE:SLV[1]) — The objective of this investment is to reflect the price of silver owned by the trust, less the trust’s expenses and liabilities. The fund is intended to constitute a simple and cost-effective means of owning silver since the trust holds physical silver bullion. 

For two months, silver has been consolidating. But on July 13, it successfully attacked its 50-day moving average, gapping through it, and therefore, successfully establishing a double-bottom with a new target of $46.

• See Sam Collins’ Daily Market Outlook: 3 Safe Places to Put Your Money[2]
• See Serge Berger’s Daily Market Outlook: Market Trouble Brewing on the Horizon[3]
• See Serge Berger’s Trade of the Day: This CAT Has More Lives[4]

[5]

Source URL: https://investorplace.com/2011/07/trade-of-the-day-ishares-silver-trust-nyse-slv-3/

---