| New Upleg For Silver? |
| By Mike Paulenoff |
Published
05/4/2009
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Futures , Stocks
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Unrated
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New Upleg For Silver?
Increasingly from a technical perspective, the mid-April low at 11.64 in the iShares Silver Trust ETF (SLV) appears to have ended a correction off of the February high at 14.45 and as well as initiated a new upleg that should hurdle a 10-month resistance line at 13.00 on the way to a test and hurdle of 14.45. At this juncture only an inability to hurdle 13.00 followed by a decline that breaks 12.20/15 will compromise the developing upmove.
Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.
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