We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the SLV - iShares Silver Trust (SLV)
I hope you are having a GREAT week !
Markets normally move from low volatility to high volatility.
SLV is in a low volatility sideways move right now, which will probably lead to a high volatility move.
Odds are the next big move in SLV will be to the upside,because all signs are that a bottom is probably in.
MarketClub is on a daily and weekly green Trade Triangle which is bullish, and if SLV breaks out above resistance that would help to confirm the bullish Trade Triangle outlook.
The MACD is on a buy signal for SLV as well, which fits in perfectly with what the price action is telling us.
I hope you enjoy the commentary and please leave any questions or comments as to what you think is going on for SLV right now.