Thursday, June 30, 2011

Silver at Multi-Month Closing Low

While equities did well today, commodities didn't.  One commodity that had another rough day was silver.  Below is a six-month chart of the heavily traded Silver Trust (SLV).  After declining more than 2% today and 8% over the last four days, SLV is now below its closing low from mid-May.  With this key support level broken, is silver about to take another leg down?

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