Loading ...[I prefer to use CDE for a silver rally-if. we ever get one–but I guess call option inundated SLV would. have to tag along]
Silver? Small mining companies or “juniors”? Platinum? The dollar? These are some of the indicators that “gold bugs” watch to judge whether a gold rally has staying power. Let’s check out the charts of the silver iShares Silver Trust ETF (SLV) today.
In this daily bar chart of SLV, below, we can see that prices made a bottom back in September-November, followed by a rally into February and a retest in May. This month saw SLV rally above the rising 50-day moving average line as well as the now bullish 200-day line.
Notice the rising On-Balance-Volume (OBV) line from November to June? Buyers of SLV were being more aggressive even as stocks soared and the dollar rallied.
The trend following Moving Average Convergence Divergence (MACD) oscillator turned up above the zero line in December and again this month.