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iShares Silver Trust
Long
Updated

SLV - Buy The Trend??

142
On adage that I have followed for years is if you can buy at or below a rising trend, then over time, you can profit. SLV is at that point now, the 20 week moving average is rising. This moving average is rising 9 cents a week or in other terms, better than 0.5% per week. For those who are longer term bullish on silver, this is a good place to place or add to a position.
Note
snapshot As posted above, my expectations for the trend line advancing on average 9 cents a week, my initial estimate is that by Jan 2020 option expiration date, the trend should be right around 16.85. The projection shown here moves price above $17. With this estimate, I purchased a lot of Jan 2020 15-17 calls for 80 cents. Should net at least a double if my projection holds.
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snapshot Price getting back on track
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snapshot Well the moving average moderated but here we are on Jan options expiration date. I had predicted 16.85 per the moving average. at 16.88 here getting close to close. While I traded out of the 15-17 spread getting above the 1.85 I had hoped to win, it was a good play all the way to the end, delivering on the analysis
Glewis54
Also on:
Chart PatternsTrend Analysis

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsTrend Analysis
Glewis54
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.