Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

SLV Back To Positive

This morning the iShares Silver Trust(NYSE:SLV) was trading lower on the session. However, since the FOMC minutes where released at 2:00 pm EST most commodities have caught a sharp bid higher. In the minutes the Federal Reserve Bank said it expected to keep the money printing coming fast and furious(QE2). This type of action will dilute the U.S. Dollar Index and inflate the stock markets higher. Therefore, as long as the U.S. Dollar trades lower gold and silver should trade higher. The next important intra-day resistance level for the SLV will be around the $23.00 level.