Silver attempting 7-year breakout; Hi Yo Silver Time?

Silver and Silver ETF (SLV) has NOT been a good asset to buy & hold since the 2011 highs, as they have declined around 66% in the past 7-years.

Could the long-term trend downtrend in Silver be about to end? Below looks at Silver Futures over the past 8-years-

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Over the past 3-years Silver has created a series of flat bottoms around the $15.80 level. As the same time, it has created a series of lower highs at the top of falling channel (1).

Currently Silver is testing a key breakout level at (2), where if it succeeds in breaking out, it would send a bullish price message for the first time in years.

If Silver would breakout above, SLV would be good to own and the ETF below could present bullish opportunities as well.

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Silver Miners ETF (SIL) remains in a downtrend, no doubt about it. Similar to Silver, SIL has created a series of flat bottoms and lower highs over the past year.

SIL is testing a breakout level this week at (1). If Silver breaks above its 7-year falling channel in the top chart, SIL could follow and breakout at (1) above.

Is it "Hi-Yo Silver Time" for this out of favor metal? If dual breakouts take place, both could attract buyers that have been absent from this sector for years!

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