The iShares Silver Trust (ARCA:SLV) dropped sharply again Wednesday as silver continued to get smoked on the total commodity collapse in Gold and oil. While down on Wednesday, signs point to a near-term bottom. First, silver is down 70% from its 2011 highs. In just the last few months, it has dropped 29%. No one will question whether or not silver is oversold.
However, the most important factor is the chart. Note the key support line below stretching back to 2009 and 2010.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.
