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Silver Trust: Buy At $19.08

Published 12/04/2013, 11:58 PM
Updated 07/09/2023, 06:32 AM
SI
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From a technical view, the ETF is bouncing off its lower Bollinger band which is rising now. Regarding technical indicators, the weekly RSI is still neutral after the upside breakout of a bearish trend line in July 2013. However, the 20-week moving average is rising and maintains upward momentum started in July 2013. On a relative basis against the IVV S&P500, the iShares Silver is pushing above a declining trend line and looks set for a rebound.

Trading strategy:

Buy at $19.08 - Stop loss at $17.70 - Target at $23.85.


Silver Trust Daily Chart

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