Targeting the Lower Channel Trend Line for the Silver Trust

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Gold, oil and silver fell sharply on Friday as the G20 meeting started in Moscow. The chart below shows the Silver Trust (SLV) forming a lower high in late January and plunging to the early January low. The lower trend line of the falling channel marks the next support level in the 27.50 area. Also notice that the Percent Price Oscillator (PPO) turned down again and moved deeper into negative territory.

130215slv


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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