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SLV still strong

|Includes: GLD, iShares Silver Trust ETF (SLV)

To follow up with my previous posts (here, here and here) on SLV, to my surprise that SLV is quite resilient lately. As shown in the chart below, after SLV:GLD broke out the upper channel, it consolidated for a couple of days but stays above the upper channel line. The strength it shows makes me suspect that this might be a real break out. The upside technical target would be the current price plus the hight of the channel. Traders may want to look at this chart closely for clues of its next move.



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