Stocks Analysis by Chris Kimble covering: XAU/USD, XAG/USD, Gold Futures, Silver Futures. Read Chris Kimble's latest article on Investing.com
The chart below is a long-term “monthly” view of the Silver ETF . As you can see, SLV is testing its 5-year highs at . This resistance level carries even more importance because it is the 38.2 Fibonacci retracement level. Time for a pullback or time for a breakout?
Should the Silver ETF breakout at , look for it to run hard towards its 61.8% Fibonacci level at $33, which is nearly 20% above current prices!Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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