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.
Thanks,
Jim Robinson
Profit Trading.com
Anybody notice the triangles. 4 out of 4. Nice.
Volume is income for all exchanges which is why front running via high speed access now rules all. Markets are rigged for criminal benefit by mindless greed. Go ahead, give them all you got until the markets are completely destroyed.
Catalyst JD? Try end of consolidation resulting in resumption of secular bull market. Try falling U.S. dollar, as the reality of trillions upon trillions in unpayable debt just....won't.... go.... away.
Buy Silver Eagles if you want to put your $$ in silver. The crooks running this ETF are taking the silver bullion out the back door to cover their own silver shorts.
What's the catalyst? Another non-event chart without mfg, without QE, without the american huckster mentality in full flower shifting assets from weak hands. Wake me in a couple of weeks.