Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

Is Now the Opportune Time to Buy Silver?

% of readers think this story is Fact. Add your two cents.


Just 9 short days ago your friendly Gold Enthusiast advised that he’s waiting for signs of an uptrend before buying into silver. Just exactly what that means might be up for debate; usually, an uptrend requires starting from a decent base with relatively low volume, and from there a rise in both price and volume.

Are we seeing that in the current chart for SLV?

(Source: Fidelity.com)

The 6-month chart is both enlightening and confusing.  During Example 1, we see what looks like a promising little candlestick base occuring at the same time as a low RSI – but silver doesn’t really go anywhere, only up about 40 cents before the run dies out.

Example 2 is a little better from a price and RSI perspective – a gain of 1.40 as silver ran from an RSI down around 32 up to 70.  But volume didn’t give a good indication of going down before the run, then increasing during the run.

Things like indicators not working make it hard to anticipate, predict, or in general have confidence in trading.

Right now silver has gotten close to a recent low, and is up in premarket trading. Volume has been on a slow decline recently so that’s a positive sign. And silver bulls had been backing off on bullish bets…

…until this past week. Now we’re seeing signs that silver bulls are going after silver again. Your Gold Enthusiast thinks it might be a bit early yet — most investors are still chasing equities as the US market makes several new all-time highs.

So if we see a small rally and it fades out, don’t say we didn’t warn you.

Signed,

The Gold Enthusiast

(DISCLAIMER: The author holds no position in any mentioned security.  The author is long the silver sector via a small position in USLV. He may daytrade around this position but has no intention of trading out of this core positions in the next 48 hours)


The iShares Silver Trust (SLV) was trading at $16.52 per share on Thursday morning, up $0.19 (+1.16%). Year-to-date, SLV has gained 3.31%, versus a 26.75% rise in the benchmark S&P 500 index during the same period.

SLV currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #9 of 33 ETFs in the Precious Metals ETFs category.


About the Author: Mike Hammer

Mike HammerFor 30-plus years, Mike Hammer has been an ardent follower, and often-times trader, of gold and silver. With his own money, he began trading in ‘86 and has seen the market at its highest highs and lowest lows, which includes the Black Monday Crash in ‘87, the Crash of ‘08, and the Flash Crash of 2010. Throughout all of this, he’s been on the great side of winning, and sometimes, the hard side of losing. For the past eight years, he’s mentored others about the fine art of trading stocks and ETFs at the Adam Mesh Trading Group.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

The post Is Now the Opportune Time to Buy Silver? appeared first on ETF Daily News.



Source: https://etfdailynews.com/news/is-now-the-opportune-time-to-buy-silver/
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Join our affiliate program and earn extra money by sharing with friends and family or by posting on your social media.


Order by Phone at 888-809-8385 or online at www.mitocopper.com


Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

APeX - Far superior to colloidal silver! Destroys Viruses, Bacteria, Pathogens with Oxygen plus Silver!

Supreme Fulvic - Nature's most important supplement! Vivid Dreams again!

Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)


FINAL WARNING!  Diseases are EXPLODING!  Watch this Video about APeX and You'll THROW AWAY Your Colloidal Silver!  APeX destroys Viruses, Bacteria and other Pathogens with the power of Oxygen PLUS Silver!  Nobody else has a product like THIS!   See why the inventor hasn't been sick in 16 years and why you'll never hear about it on the FAKE NEWS!  Get some now and tell your friends about it too so we can reach more people!  


APeX Interview - Superior to Colloidal Silver from Lee Canady on Vimeo.


Learn about APeX Here and Get the 50 Page Report in PDF format.   Call us at 888-809-8385 to order by phone.



Report abuse
Loading...
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Loading...
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.