Silver broke from a sideways channel at $30 an ounce, back in February, then rallied up to the $50 an ounce level (gaining 60% in a matter of weeks). See chart below that I posted just short of 90 days ago, which suggested to BUY THE BREAKOUT! (see post here)
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Below is an update on SLV…The Power of the Pattern suggested to pick up SLV on channel support at (1)
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Silver fell 30% last week, yet it did hold at support that has been in place for almost 30 years! (see post here) Support seems to have held Silver at this time and a nice break of short-term falling resistance looks to have taken place.
Game Plan….Picked up SLV last week and remain an owner. A break of rising support an SLV will be sold and ZSL will be purchased!
As the chart below reflects, the 500 index has done OK the past few days, yet SLV is up a little bit more!
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This is a prime example how the “Power of the Pattern can help inflate portfolios regardless of market direction!”
