|

There is no reason to sell iShares Silver trust

The iShares Silver Trust (SLV) is an exchange-traded fund (ETF) that tracks the price performance of the underlying holdings in the London Bullion Market Association (LBMA) Silver Price as of August 2014. If you’re interested in investing in silver, SLV provides exposure to the silver market without the need to physically hold the metal.

SLV 360 Min Chart May 7th

At the beginning of 2024, SLV resumed the bullish trend after a year of sideways movement. We think that the low of 01/22/2024 at 20.07 started the new cycle higher and we called as wave ((2)). From this point, we are looking to develop an impulse as ((3)). In the chart above from May 7th, we can see clearly an impulse wave (1) of ((3)) ended at 27.24. Then, market entered in a pullback as wave (2) building a zig zag correction. The ABC structure ended at 23.78 low in May and rallied again. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

SLV 240 Min Chart May 20th

Two weeks later, SLV has made a strong rally breaking above wave (1) high; therefore, we are already trading in wave (3) of ((3)). Up from 23.78 low, wave 1 ended at 26.28 and pullback as wave 2 completed at 24.70 low. Then, market remained bullish starting wave 3 of (3). Currently, we are calling for one more high to end wave ((v)) of 3. If there is not more extensions in wave 3, it should finish in 29.94 – 30.45 area before starting a correction in wave 4. Once wave 4 is ended in 3, 7 or 11 swings correction, we should looking for buying opportunities.

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD holds above 1.1750 due to cautious trade before FOMC Minutes

EUR/USD holds ground after four days of little losses, trading around 1.1770 during the Asian hours on Tuesday. The pair remains steady as US Dollar moves little amid market caution ahead of the Federal Open Market Committee December Meeting Minutes due later in the day, which could offer insights into the Federal Reserve’s 2026 outlook.

GBP/USD finds key support near 1.35 despite year-end grind

GBP/USD remains bolstered on the high end as markets grind through the last trading week of the year. Cable caught a bullish tilt to keep price action on the high side of the 1.3500 handle, though year-end holiday volumes are unlikely to see significant progress in either direction as 2025 draws to a close.

Gold gains on Fed rate cut bets, safe-haven demand

Gold price edges higher above $4,350 during the Asian trading hours on Tuesday. The precious metal recovers some lost ground after falling 4.5% in the previous session, which was gold's largest single-day loss since October. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries, adoption of AI and tokenization of Real-World-Assets.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).