Categories
Commodities

iShares Silver Trust (NYSE:SLV) : Took profit. Expect consolidation

 

Decide to close off my SLV position. It has rise up a lot in a fairly short timeframe and I think it is best to take some money off the table.

At this moment, there is nothing on the Ichimoku chart that is suggesting that the trend will change.

The leading kumo seems to be tapering off and suggest consolidation.

Categories
Commodities

iShares Silver Trust (NYSE:SLV) : Consolidation after run up?

SLV has run up very fast over the last 3 months since it breaks the $20 resistance.

We can see that the leading kumo is flattening; suggesting consolidation. It is possible that it is going into a consolidation before breaking $30.

Support is around 26.50 from the Kijun sen

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