Figure 1 is a weekly chart of the i-Shares Silver Trust (symbol: SLV). The black and red dots are key pivot points. These are the best areas ofbuying (support) and selling (resistance).
Figure 1. SLV/ weekly
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The key pivot to watch is at the 28.83 level. A weekly close above this level implies that the downtrend has been reversed. Continuation of the downtrend would be heralded by a weekly close below this level and a weekly close below 27.20, which will most likely be the next level of support.
