Silver Falls as UBS Calls For $50.00 Silver

I'm always suspicious when an investment bank starts giving out free research that they pay tens of millions of dollars for, especially when the underlying equity of interest is down.

I published this piece about the ascending wedge in SLV and what to expect from it so far it has done what was expected, and now it's starting to fall, this is certainly an area to look at ZSL.

Here are the SLV/ZSL charts.

 As far a the wedge, this was posted on 8/18 (last Thursday while SLV was still in the wedge) -Daily SLV chart.

"Here's an hourly chart of SLV in a bearish ascending wedge, most traders expect a straight drop down out of the wedge, because it is so obvious, it is likely to be gamed, so I would look for a breakout to the upside, maybe even a new local high and then a plunge in SLV, lifting ZSL. It shouldn't be long now that the wedge is so tight."

 SLV 15 min negative divergence

 SLV 5 min negative divergence

 SLV 1 min negative divergence

 ZSL 15 min positive divergence

 ZSL 10 min positive divergence

 ZSL 5 min positive divergence

ZSL 1 min positive divergence

ZSL is pulling back a bit so you may get a much better Risk:Reward Entry.