It was only a week ago when we last looked at the i-Shares Silver Trust (symbol: SLV). See figure 1, a weekly chart of the SLV.

Figure 1. SLV/ weekly

Since that time, SLV has definitively taken out its key pivot at 28.83. This was resistance, and it is now support. Look for SLV to trade to its downward sloping 40 week moving average.

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3. Higher Long Term Yields?