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Downtrend Broken Resist.Archive
- 4/19/2024 -
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iShares Silver Trust (SLV) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the iShares Silver Trust (SLV). During the week, the SLV gained 0.57 points, or 2.22%, and closed at 26.20 on Friday, April 19, 2024. Weekly volume was 136% 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 (20.35) is broken. A broken support is considered to be a long-term bullish signal. 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 27.24 on April 12, 2024. SLV gained -7.17 points, or -35.72%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (20.86) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
 Weekly Technical Indicators: [See SLV weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, 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, Relative Strength Index 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 27.24 on April 12, 2024. SLV gained -4.95 points, or -22.21%, in 17 days. The chart has formed a Symmetric Triangle chart pattern.
 Daily Technical Indicators: [See SLV daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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