Checking in on the Cup and Handles pattern in Silver (SLV)

The handle portion of the cup & handle formation in the iShares Silver Trust (SLV) is almost complete - a move up another point to $34 should bring us up to some overhead supply, but after working though that we could see an explosive move up past $40 a share.

Silver and Gold held up very well after the post-election sell-off. Get your Silver on. Better yet, buy physical silver. Here's why:

FDIC coverage changes:

Changes to FDIC deposit insurance that will take place at year-end relate to the unlimited insurance given to non-interest bearing checking accounts, which are typically used by big corporations to pay bills and handle payroll accounts.

Will this cause a bank run? Time will tell, but most of the research I've seen on the subject points to movement of funds to treasury bonds which could result in negative interest rates in T-bonds. You are going to want hard assets - Gold, Silver, Land, etc.

Here is the original chart from our November 7th article Cup and Handle formation in Silver (SLV):

Here is today's chart: