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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Lower Lows Ahead for Ishares Silver Trust (NYSE: SLV)  0 comments
    May 11, 2011 5:38 PM | about stocks: SLV

    May 12, 2011

    Shares of Ishares Silver Trust (NYSE: SLV) closed at $34.39 on Wednesday, May 11, a one day loss of 8.3%.

    After two days of gains, the pressure on silver is apparently still there. But how far can SLV go before reaching a bottom?

    There are few who expected this selloff, and many theories are out there, but looking at the technical aspects alone, SLV could still decline to $26.00, the lows reached back in January before SLV took off on its parabolic price rise.

    There will likely be support at $30.00 a share as even numbers attract buy and sell stops and many will see this number, if it is reached, as a huge buying opportunity.

    But the lowest we can see SLV going is to the $26.00 level in coming weeks.

    http://www.fibtimer.com does not currently have a position in Ishares Silver Trust.


    Stocks: SLV
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