Here Is The Bottom: iShares Silver Trust

The iShares Silver Trust (NYSEARCA:SLV) dropped sharply again today. Silver is being smoked on a total commodity collapse with gold and oil. While down today, signs point to a near term bottom. First, silver is down 70% from its 2011 highs. In just the last few months, silver has dropped 29%. No one will question whether or not silver is over sold. However, the more important factor is the chart. Note the key support line on this chart below stretching back to 2009 and 2010.

Gareth Soloway
InTheMoneyStocks.com