iShares Silver ETF (SLV): In Retracement Mode

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iShares Silver ETF (SLV) has been on very bullish mode for these two months after breaking out from the Inverted Head and Shoulders (trend reversal pattern) and retested the neckline (illustration in green). SLV is expected to retrace into consolidation mode after reaching the 161.8% Fibonacci Expansion Level. Currently SLV is just sitting above 20D SMA support. Next critical support is at $17.00 (in blue).SLV July23-2016

SLV is currently on bullish uptrend. By looking at the current trend and long term chart, can you spot any investment opportunity? Happy Hunting!

Original post from http://mystocksinvesting.com

SLV July23-2016 (long term)

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