Don't Ignore This Chart!

Silver Miners ETF Breaks Channel Support

 | 
The Silver Miners ETF (SIL) is having a tough time this year with a failed gap and now a move below the early January low. After breaking down in November, the ETF formed a rising channel the last two months. SIL broke channel support today and continues to show relative weakness.

130123sil
Click this image for a live chart

Announcement from the Author

{{ announcement.content }}

Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus