PPR - SLV a Likely Pocket PIvot Today

Published : July 13 2011 at 9:50 ET

Silver, via the SLV, looks poised to post a pocket pivot buy point on today's gap-up above the 50-day moving average. With gold continuing to move higher following the clean breakout yesterday, we expect that the two will correlate to some extent. We would also expect the SLV to hold above the 50-dma on this pocket pivot, which we assume will hold up into the close given the amount of trading volume at this early stage of the day.


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