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New Trading Target for SLV

ETF gapped through 50-day moving average, successfully establishing a double-bottom


iShares Silver Trust (NYSE:SLV) — 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.

SLV Chart

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