SLV Shares Silver Trust, Down before up? Lets see!Keeping it simple!
If you have checked my other charts please do, as they are mostly all playing out so far.
SLV is not the best stock for silver, as AG is a much better "silver investment" , but Ill go through this one real fast.
Looking for a fail in the wedge, because we never get what we want, (silver boom). Pull back to targeted areas.
I've also labeled a short term bounce to watch for, to top of wedge.
We have sell signals on the daily, with no currant buy signals. (Could result in no small bounce, straight to my target area.
We have our bolly band getting tight, and wedge coming to the end. There is also no momentum change in selloffs just yet.
The wedge rolls into new years, which would be a perfect storm for it to make a huge dip to lower supports before rising into the new years. (prepping for a bigger crash then)
There is also the Ichimoku turning bearish. These are all on the very important daily.
Another huge note is the WEEKLY squeeze, Im assuming it will fire short, to complete my graph.
Ill be selling my SLV on the next bounce, and will stay out, to relocate into a better silver investment such as AG or just buying silver raw, as over time this stock has proven to be failed compared to many other commodities.
Be sure to check out my other graphs, and FOLLOW with a LIKE! :) as if you did you would have saved a nice % in doing so. Not legal advice of course!
Happy trading, debating and speculating! I want everyone to win!
