The Silver ETF moved sharply lower in October and then bounced with a rising wedge. The wedge is still rising, but broken support turns resistance in the 32.5 area. A wedge break would signal a continuation lower and target a move to next support in the 29 area.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.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.
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