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However, you can make an argument for a bit of an uptrend just below be informed by an extended line that is close to the $15.50 level as well, so I think pullbacks will be looked at as potential buying opportunities. The 200 day EMA underneath of course will offer support, so I think there’s enough to believe that the buyers will continue to go into this market and look for value as the Federal Reserve looks to be a bit soft. With that in mind, I’m looking for value at lower levels to take advantage of just as I am and other precious metals like platinum and gold. I believe the US dollar is going to struggle going forward.
The iShares Silver Trust (SLV) was unchanged in after-hours trading Thursday. Year-to-date, SLV has declined -7.63%, versus a 1.63% rise in the benchmark S&P 500 index during the same period.
SLV currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #9 of 35 ETFs in the Precious Metals ETFs category.
This article is brought to you courtesy of Yahoo Finance.
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