If you are someone that does not like the risk of owning an individual Silver miner, this is one ETF that you may want to consider. SIL is Global X's Silver Miner ETF.
Stochastics are at the over sold area and looks to be heading towards the upside. SIL has been in a trading range for 1 year and plenty of swing trading opportunities can be seen looking back. Buying in the low 20'ies and selling above $25.
Should Silver break above $50 next year, the Silver miners should start moving quickly to the upside as earnings should be outstanding for the junior and mid tier producers. Once SIL breaks the high produced earlier this year of $31.34, it may run to the next fibonacci level 423.6 which is at $40.
Stochastics are at the over sold area and looks to be heading towards the upside. SIL has been in a trading range for 1 year and plenty of swing trading opportunities can be seen looking back. Buying in the low 20'ies and selling above $25.
Should Silver break above $50 next year, the Silver miners should start moving quickly to the upside as earnings should be outstanding for the junior and mid tier producers. Once SIL breaks the high produced earlier this year of $31.34, it may run to the next fibonacci level 423.6 which is at $40.
No comments:
Post a Comment