Silver Poised for Upside?SLV is setting up a strong case for a position trade. A similar situation recently played out with Palantir, although with greater risk involved due to being an individual stock, but we don't need to exclude the intrinsic value of precious metals. Multiple timeframes are showing technical confluence
Key stats
About iShares Silver Trust
Home page
Inception date
Apr 21, 2006
Structure
Grantor Trust
Dividend treatment
Distributes
Distribution tax treatment
Return of capital
Income tax type
Collectibles
Max ST capital gains rate
39.60%
Max LT capital gains rate
28.00%
Primary advisor
iShares Delaware Trust Sponsor LLC
Distributor
BlackRock Investments LLC
SLV gives investors direct exposure to silver by physically holding the metal in vaults in London. As such, investors get exposure to spot silver (determined by the London Silver Fix), less fund expenses. As this fund is considered a collectible for tax purposes, taxes on long-term gains are quite steep. Still, SLV provides stability for buy-and-hold strategies.
Classification
What's in the fund
Exposure type
Miscellaneous
Bonds, Cash & Other100.00%
Miscellaneous100.00%
Will Silver finally moon?Silver has been consolidating near its February 2021 highs for 8 months. Multiple patterns occurred within this range but most failed (see previous posts).
A breakout of a symmetrical triangle appears to be occurring tomorrow, 3/12. A small position was initiated today, and a daily close above 30.
SILVER & SLV TVC:SILVER AMEX:SLV
my thesis:
i see the silver price been trending strong throughout the long run. as long as silver trending up, i see its strong potential to reach price in between 35 to 38. i will keep looking for longs in the future as price always has its potential for uptrend.
for SLV
one more shakeout coming!As much as I hate to admit it, I think that we will have one more major shakeout that will be intense and will cause panic in the precious metals markets. The bullion banks are loaded up with shorts...and yes that could mean that a short squeeze ensues and takes metals up explosively. However, abs
SLV LONGThe SLV ETF has recently experienced a significant Change of Character (CHoCH), which is backed by strong volume. This type of move indicates that the price structure has shifted from bearish to bullish, with buyers stepping in as price action shows signs of strength.
What stands out is the 37K vol
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.