Will Silver (SLV) Pop After Its Drop?

silver gold bars
Written by Mike Hammer

Silver “enjoyed” quite a pop from the US-Iran clash. Now that everyone’s taken a deep breath – at least, everyone trading metals – what’s the scenario from here?

As always, first the chart – this time for SLV, the unleveraged silver ETF that trades on US markets.

slv silver ishare trust

What the chart of SLV says is silver probably got a little too over-extended in the short term. Silver had a nice, fairly balanced run-up the previous 3 weeks or so, then came US-Iran. Of course, it popped, any big shooting-fighting is massive geopolitical uncertainty.

But… Continue reading at ETFDailyNews.com

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

Leave a Comment