Silver Rally Continues - Market Analysis for Jan 2nd, 2018

SLV is up for the 9th session in the last 12 trading sessions, and has climbed 10% from 14.74 to 16.22. Let's notice that SLV gapped up today-- above the 200 DMA (16.05) in route to a full-fledged challenge of its Oct.-Nov. highs at 16.41 and 16.50.

If SLV takes out 16.50, then it will point next to a confrontation with its 10 month resistance line, now in the vicinity of 16.80.

My intermediate term work on nearest Silver futures is extremely bullish. If SLV takes out its multi-month trendline at 16.80, I will get a signal that will project to a test of the August 2016 high at 19.71.... Last is 16.21/22...

1 02 18 SLV Daily GIF
1 02 18 SLV Daily GIF

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