Chartology: Silver (SLV) Basing on Long Term Trend Line?

Stock ChartsSilver (SLV) has spent the better part of the past 3 months attempting to form a bottoming base. 27.50 and 28.00 appear to be important near term overhead resistance, while the early August pivot higher offers near term support.

Either way, watch for a break on higher volume for clues.

On a longer term basis, Silver is resting on its 4 year trend line – see weekly chart below.

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Silver (SLV) stock charts with price support and resistance levels. SLV stock charts with technical analysis as of August 8, 2012. SLV trying to form a technical base, resting on 4 year trend line. SLV long term chart.

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