Silver solidifies a floor

The Silver ETF SLV closed +1.3%, to close @ $28.10. This is first close above the daily 10MA in over a month. There are two clear gaps to fill in the 29/30 zone, and that seems a very reasonable near term target.


SLV, daily3

Summary

The underlying daily MACD (blue bar histogram) cycle is set to go positive cycle at the Thursday open.

There is very likely to be some further upside, if not even a significant gap higher.

On a slightly wider perspective, it has to be asked, are we now looking at a few weeks higher, back to test the descending resistance around the 30/31 area?

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*I am long SLV from the 27.80 level..seeking an exit in the low 29s.