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DSLV Update…The Chartology of Silver

Commentaries & Views

Today DSLV 3 X short silver etf, is breaking out from a possible bearish falling wedge. I’m going to take an initial position and buy 150 shares at the market at 34.74 with the sell/stop on a daily close below the 50 day ema which is currently at 30.06. ZSL is a 2 X leveraged etf if you don’t want all the leverage. DSLV can be pretty volatile so take small bites. A backtest to the top rail would come into play around the 34.15 area for a slightly lower risk entry point.

https://rambus1.com/wp-content/uploads/2018/08/dslv-by.png

Below is a daily line chart for SLV which shows a possible bear flag forming.

https://rambus1.com/wp-content/uploads/2018/08/SLV-DAY-LINE.png

The weekly chart for SLV shows a similar 2016 triangle to the one we’ve been following on gold. Keep in mind the dominate chart pattern is the 2 1/2 year triangle which is releasing its energy to the downside.

https://rambus1.com/wp-content/uploads/2018/08/slv-week.png

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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