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Uptrend ExhaustionArchive
- 4/5/2024 -
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iShares Silver Trust (SLV) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the iShares Silver Trust (SLV). During the week, the SLV gained 2.28 points, or 10.02%, and closed at 25.03 on Friday, April 5, 2024. Weekly volume was 185% above average.
 Long-term trend: [See SLV long-term trend chart]
A long-term downtrend had started on February 1, 2021 at 27.98 and reached 16.19 on September 1, 2022. SLV lost 11.79 points, or 42.14%, in 82 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (20.25) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SLV may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See SLV medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 20.07 and reached 25.14 on April 5, 2024. SLV gained -5.07 points, or -25.26%, in 10 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See SLV weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See SLV short-term trend chart]
A short-term uptrend had started on March 26, 2024 at 22.29 and reached 25.14 on April 5, 2024. SLV gained -2.85 points, or -12.79%, in 10 days. Price is near the trend high.
 Daily Technical Indicators: [See SLV daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Daily Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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