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Silver (SLV) Weekly Chart Bouncing Off Horizontal Support in the $18 Area

November 5, 2022

With the big bounce this week, SLV was up about 8.5%. If it can follow through higher, the 200 week MA is at $19.37, then the 50 week MA at $20.07, which are very achievable being it closed the week at $19.26 and with oversold technicals.

SLV took the first step to turning the trend higher this week, with a strong 8.5% jump pushing it to near its 200 week MA. It looks like SLV should have more upside, let’s see what it can do over the next few weeks.

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