SLV daily Jan 16th
SLV (Silver ETF) has hit T1 hit for a 5% gain. Consider booking partial or full profits and/or raising stops, depending on your trading plan. Reactions (i.e.- pullbacks and/or consolidations) are likely as each target level is hit although I favor at least T2 on SLV and may likely add some additional, longer-term targets as the case for a lasting bottom in both silver & gold have recently strengthened considerably with the breakout of the downtrend as well as the inverse head & shoulders pattern in gold. Couple the recent bullish price action in gold & silver (and the miners) with the fact that the dollar continues to soar to new multi-year highs and that gives us the potential for a very strong rally in the metals & miners if & when the dollar finally begins even just a half-decent pullback.