Chartology: Silver Bounces Off 20 Week MA, Now What?

By Andrew Nyquist
Quick update on Silver (SLV). This week saw a nice bounce off the 20 day moving average (noted last week). That said, the precious metal is still heavy and will need more than one week to prove that it has stabilized. Also watch congestion (resistance) on daily chart – see below.

Continue to watch the 20 week moving average. Look for another date with the long term trend line if this support gives way.

Trade safe, trade disciplined.

More charts found here.

Sign up for our FREE newsletter
and receive our best trading ideas and research

silver long term chart, silver long term trend line, silver stock etf, slv, stock chart, precious metals, november

slv stock chart, silver, precious metals, silver prices, november 2012

Silver (SLV) technical charts as of Novemeber 9, 2012. SLV charts with technical analysis and price targets for November. Precious metals sector and silver.


Twitter:  @andrewnyquist and @seeitmarket     Facebook:  See It Market

No position in any of the securities mentioned at the time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.