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Silver At Key Support: Watch For Bounce

Published 09/11/2014, 03:32 PM
Updated 05/14/2017, 06:45 AM

Silver has fallen sharply, lately. The iShares Silver Trust (ARCA:SLV) traded, Thursday, at $17.88 (-2.00%). While the metal appears to be very weak, chart analysis shows support and a bounce is likely for the next few weeks.

Bear in mind that the Federal Reserve meets next week to decide its next policy shift and that could be the catalyst to both a silver and Gold bounce. The iShares Silver Trust maybe be the best way to play the metal.
Silver: Daily

Latest comments

My thoughts exactly.. Although Silver is a precious metal.. It's never going 'away'. Good grief I hope it wouldn't go to $14. I don't see it happening ~ too much uncertainly in the equity markets as Armageddon nears.. I like this level as a low..GLen
My thoughts exactly.. Although Silver is a precious metal..So It's never going 'away'. Good grief I hope it wouldn't go to $14. I don't see it happening ~ too much uncertainly in the equity markets as Armageddon nears.. I like this level as a low..GLen
How does this support level correlate with the Dollar? . Will a strengthening Dollar result in lower prices for Silver? (breaking support and heading lower..)
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