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Market Insights

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Silver Attempts a Pre-Fed Breakout: Technical Analysis

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Silver has been dead money since the summer as the U.S. dollar ripped higher. But now it’s attempting a breakout — despite next week’s looming Federal Reserve meeting.

Notice how the iShares Silver Trust (SLV) made a higher low on January 6 versus its nadir the previous month.

Next, consider the level above which it made the higher low: $19.80. That price marked …

For more, please click here to view the related idea and chart analysis on TradingView.

iShares Silver Trust (SLV), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.