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Shared yesterday morning that Fibonacci looked to be blocking SLV/GLD from moving higher. (see post here)
SLV is acting a little doggy since the April highs, as it is down almost 40% in value. Relative strength ratio suggested to get out of Silver in May (see post here). It appears that SLV is forming another flag/pennant pattern of late. Shared last week that ZSL looked to be a good play and so far this pattern doesn’t change it, yet while the flag continues to form, extra back and forth action should take place for a while.