Silver ETF (SLV) – Buying the Dip – August 13th, 2020

The bullish DailyPlay for Thursday, August 13th is the Silver ETF (SLV). SLV has experienced a 31.5% gain over the past month and its 1M trend turned bullish on June 25th.

Fundamental View

  • Global central banks backstopping suppresses real-rates, providing a tailwind for precious metals.
  • Uptick in industrial demand sparks short term demand for silver
  • Long term climate change initiatives increase long-term demand for silver for solar panels

Technical View

  • Price has recently pulled back after rally to provide a good long opportunity
  • Both 1M and 6M trends are bullish
  • Very strong relative strength, technical score (10 out of 10)

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