TSXV:SLX.P - Post by User
Post by
hiker1on Dec 30, 2010 9:57am
361 Views
Post# 17905656
#1 Silver play
#1 Silver playIn looking for a great silver play for my portfolio as the PMs set to shoot for the moon, SLX is now my number one pick and I'd like to say thanks for all on this board for informative and solid posts. Silver up again this morning breaking $30.75 and it doesn't surprize me at all that this is being held down and accumulated before any flow of news into the New Year.......
The technical trend remains bullish for silver, a look at the monthly chart reveals four months of massive gains. With the market trading in virtually uncharted territory, upside targets are difficult to pinpoint. Very long-term bulls are eyeing the 1980 nominal high at $50 an ounce as a longer term price objective. The intraday high at $30.930 will resist near term, along with $31.00. Short-term support lies at $30.145 and then $29.985.
Trading will likely remain light heading into the New Year holiday, with thin volumes, which could limit additional upside strength over the next day or two, as many players are absent from their desks.
Cheers!