An image of a stock price rising in value
Markets

Silver Prices Rise As Trump Fear Begins To Set In

For the full technical analysis, let's check in with the experts over at Kitco :

March silver futures prices closed near mid-range. The silver market bears have the slight near-term technical advantage. However, prices are in a five-week-old uptrend on the daily bar chart. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $18.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $16.50. First resistance is seen at last week's high of $17.36 and then at $17.50. Next support is seen at $17.00 and then at $16.84. Wyckoff's Market Rating: 4.5.

In related news, gold futures touched two-month highs today, while the U.S. dollar traded lower on the first day of the trading week. The dollar has been trending lower for a few weeks now, and is now approaching a critical technical level .

On the ETF side of things, the iShares Silver Trust ETF ( NYSE:SLV ) was trading at $16.28 per share on Monday afternoon, up $0.09 (+0.56%). Year-to-date, SLV has gained 7.74%, versus a 1.06% rise in the benchmark S&P 500 index during the same period.

SLV currently has an ETF Daily News SMART Grade of C (Neutral) , and is ranked #13 of 32 ETFs in the Precious Metals ETFs category.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SLV

Other Topics

ETFs