Silver is Breaking Out to The Upside

Silver has been in a steady downtrend since peaking last August of 2016.

Over that 5 month period since the peak, silver lost about 25% of it’s value trading down to 15 in the $SLV ETF.

But ever since the new year we’ve seen this metal begin to recover from those lows and it’s now up +10% for 2017.

With this 2.5% move higher we’re seeing today on January 31st, silver is breaking out above above multi-week resistance at 16.30 and the multi-month downtrend line that has been in place since August.

It might not be perfect timing to run out and buy this today, but it’s something that is worth paying attention to as the longer term outlook is trying to shift back to the upside.

Thanks for reading and good luck out there.

Enjoy what you read? Share it below and be sure to tag @thetraderisk.

Find similar content on the following:
Posted in , ,
Tagged with

Evan Medeiros

Evan is the founder of the Trade Risk. With 25 years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

Don't miss out on more educational articles just like this!

Please enter your name.
Please enter a valid email address.
Something went wrong. Please check your entries and try again.

Leave a Comment