Don't Ignore This Chart!

Silver Trust Consolidates at Channel Trend Line

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The Silver Trust (SLV) has been working its way lower since early October with a falling channel taking shape. After plunging in February, the ETF firmed near the lower trend line with a pennant. A break below 27.50 would signal a continuation lower, while a break above 28.50 would argue for a bounce within the bigger downtrend.

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Announcement from the Author

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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
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