PPR - SLV Bottom-Fishing Pocket Pivot thru 50-dma

Published : January 20 2012 at 15:14 ET

The iShares Silver Trust (SLV) is pushing up through its 50-day moving average on a pocket pivot volume signature, making for something of a "bottom-fishing" pocket pivot move. This is interesting action and could signal at least an intermediate term move by SLV up to the 200-dma. If we were to test the waters on this one we would use the 50-dma at 30.14 as our guide for a quick downside stop.



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