$SIL - RC -
Added 2023-07-30 04:27:38 +0000 UTCI needed to chart this on the weekly timeframe to evaluate its trend and we can see that this has been consolidating sideways for over 10 years now.
Under the 200 Day MA still on the weekly, so the trend is leaning bearish for now but we can see that the price action has managed to hold the triangle trendline at the bottom and has been making higher lows this year.
This trend needs to continue. This is a Silver miners ETF, so not to be confused with the price of Silver....but of course heavily linked.
This is a slow mover but I expect this to continue moving up the triangle using the yellow trend line as support.
