Sunday, February 21, 2016

Market Watch: SLV

It looks like silver is making a serious attempt to avoid the single digits, bad news for those who thought they would be able to by cheep. Taking a look at the the chart above you can see that that the long slide from the highs of about $45 seems to be leveling out at about the same place it started, around $15.

Looking at the yearly chart you can see the saucer like support around $13 since November. Notice how the 200 day moving average (dma) is flatening out, and the 50 dma is turning up. Also the slow stochastic is turning sharply at 25. I will go long in the morning and stay there so long as slv holds the 200 dma.

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