Trade of the Day iShares Silver Trust (NYSE: SLV)

iShares Silver Trust (NYSE:SLV) — This investment reflects the price of silver owned by the trust, less the trust’s expenses and liabilities. The fund constitutes 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.