I SHARES SILVER TRUST ETF (SLV)NYSE
  Report No. 2444    Analysis by: Harry Aloof     SEPTEMBER 3, 2012

I SHARES SILVER TRUST ETF (SLV-NYSE): Technical Viewpoint: From a low of $25.99 on May 16, 2012 prices rallied, reaching a high of $29.02 on Jun 6, 2012. A decline saw prices pull back, reaching a low of $25.34 on Jun 28, 2012. Another rally saw prices penetrate resistance line "A", closing 8/31/12 at $30.79. Technicals: MACD Index (MACD): A Buy Alert! was given on Aug 21, 2012 when the solid line crossed the dotted line to the upside. Support: Remains at $29.28. Resistance: Is at $31.10. Point & Figure: Reversed to the upside on Aug 22, 2012. A P&F downside reversal takes place at $26.00. Summary: Technical indicators have turned bullish. BUY! I SHARES SILVER TRUST ETF (SLV-NYSE) @ $30.88 Stop: Use a protective stop of $28.99. I SHARES SILVER TRUST ETF is currently trading @ $30.79 plus $1.35 on Aug 31, 2012. Price Objective: $39.00. Risk/Reward: $2.00 VS. $8.12. Today's Risk Reward Ratio: 4:1
                          

Three Part
Technical Chart

Daily Candle Stick Chart
Point & Figure Chart
Technical Study

Price Objective:
$39.00
Risk/Reward:
$2.00 VS. $8.12
Risk/Reward Ratio:
4:1

 

 

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