Buy Silver on a Pullback for 16% Gains

SLV is subject to profit-taking following a bullish breakaway gap

   
Buy Silver on a Pullback for 16% Gains

iShares Silver Trust (SLV) — This exchange-traded fund (ETF) is intended to constitute a simple and cost-effective proxy for owning silver.

SLV has turned higher and broken through its 50-day moving average on a very bullish breakaway gap. However, it is currently overextended near term and subject to profit-taking.

Buy SLV at $21.50 or lower for a trade to $25. Investors with long-term objectives could buy SLV now with a target of $30-plus.

08 19 13 silver 300x189 Buy Silver on a Pullback for 16% Gains
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chart key 300x84 Buy Silver on a Pullback for 16% Gains


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/trade-of-the-day-ishares-silver-trust-slv/.

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