CFD Trading – Buy Ishares Silver Trust (SLV.NYS) @ $24.25. Stop @ $23.45 and Target @ $25.45.

Outlook
Price broke above the cloud three trading days ago, highlighting a change in trend direction. A gap up in price helps to enhance the bullish scenario. Price had also broke above a downtrend line earlier, reversing the bearish trend. Conversion and Base lines had a bullish crossover, hinting of the bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. We think price could be heading higher to the next resistance at $25.45.

Strategy                  
$24.25              Buy
$25.45              Price Target
$23.45              Risk Management Stop
3 weeks            Trade Duration

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.