Silver Needs a Stage 1 Base

Silver has taken quite a punch since its highs around $50 just a few years ago. You can see on the weekly chart below though, silver is near a major support level at $20. The water metals consolidate, the higher they run in the future. I could see silver taking another dip down to the low $20 level which would extend out the base that is just starting. One way to play silver is by buying PSLV. This trust has actual physical silver and backs its price up with it. notice the eight lower highs on the monthly chart. This may end the stage for base and begin a statewide base for PSLV.

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