Silver Overbought

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 |  Includes: SIVR, SLV
by: Bespoke Investment Group

As shown in the first chart below, silver has pretty much gone vertical in recent days. In the second chart, we highlight the percentage spread between the iShares Silver Trust (NYSEARCA:SLV) and its 50-day moving average since its inception back in 2006. As shown, the spread has peaked at these levels (24%) twice since '06 and it hasn't gone above it. Will history repeat itself or will SLV move into uncharted territory?

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