The commodity silver has been pulling back from its September 2019 highs. This is actually a beautiful bullish consolidation pattern from the nearly 50% up-move silver saw May 2019 to its September 2019 highs. Stock and commodity investors are looking to buy the iShares Silver Trust (SLV) ETF. The question is, what is the proper entry for maximum return? Based on major analysis there is a key level to buy at. The iShares Silver Trust (SLV) should be bought at $15.25. This happens to be near a major gap fill, the daily 200 moving average and a 61.80% Fibonacci retrace. It is rare for investors and commodity traders to get a three-factor level to enter, this is one of those situations.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.