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Silver Moves Back Into The Drivers Seat



April 28, 2011 – Comments (0)

The iShares Silver Trust(NYSE:SLV) is soaring higher this morning by 0.94 cents to $47.95 a share. Spot silver is trading around $49.06 an ounce. At this time silver is soaring whenever the U.S. Dollar declines. Traders should watch for short term intra-day resistance on SLV around the $48.50 and $49.00 levels. Please keep one eye on the dollar as gold and silver seem to be reacting quickly to the upside on any dollar pullback.

Nicholas Santiago

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