Silver’s technical situation is worth monitoring.
“Currently, the SLV ETF is caught in a symmetrical triangle that is typically viewed as a period of indecision in the market. This is further evidenced by the neutral indicator readings in the Commodity Channel Index (which is essentially near 0). But as markets draw closer to the apex, decisive price moves become more and more likely. For these reasons, the next few months will be especially critical in determining where market direction is headed next year,” according to a Seeking Alpha analysis of SLV.
Year-to-date, investors have pulled $394.2 million from SLV, but SIVR has seen 2017 inflows of nearly $25 million.
For more information on the silver market, visit our silver category.