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Buy Silver on a Pullback for 16% Gains

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


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.

SLV Chart
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Chart Key

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