I SHARES SILVER TRUST
(SLV-NYSE):
Technical Viewpoint: From a low
of $32.53 on Jun 27, 2011 prices
rallied, reaching a
high of $41.19
on Aug 4, 2011. A
decline saw prices pull back, reaching a
low of
$36.04 on Aug 5, 2011.
Another rally saw prices penetrate
resistance, closing 8/19/11
at $41.68. Technicals: MACD Index (MACD): A Buy Alert!
was given on Aug 19, 2011 when the solid line crossed the dotted line to the upside.
Support: Remains at $39.75. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Aug 16, 2011. A P&F upside
reversal takes place at $39.50. Summary: Technical indicators have turned bullish. BUY! i Shares Silver Trust
(SLV-NYSE) @ $41.75 Stop: Use a protective stop of $39.75.
i Shares Silver Trust is currently trading @ $41.68 plus $2.02 on Aug 19, 2011. Price Objective:
$58.00. Risk/Reward: $2.00 VS. $16.25. Today's Risk Reward Ratio: 8:1
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