Tuesday’s ETF Chart To Watch: iShares Silver Trust (SLV)

Wall Street started the trading week on an upbeat note after news of Osama bin Laden’s death on Sunday night sparked optimism in the dollar and pushed overseas markets broadly higher. Speculators were quick to sell gold, silver, and oil in the futures market overnight, but the reaction was overdone and the three hot commodities were quick to find support and work their way back up during NYSE trading hours on Monday. Oil has been slowly rising since its last violent sell-off earlier in mid-April, and crude futures are once again eying the $115 level as May contracts soared past $114 a barrel at the market open [see Thursday’s ETF Chart To Watch: SPDR S&P Oil & Gas ETF (XOP)]. Silver has been shining brightly these past months as the precious metal has soared to record highs of nearly $50 an ounce. Volatility has been abundant in both the futures market and [...] Click here to read the original article on ETFdb.com. Related Posts: Three ETFs To Watch This Week: IHE, SLV, TAN Three ETFs For $50 Silver This Week In ETFs: April 23rd Edition Thursday’s ETF Chart To Watch: SPDR S&P Oil & Gas ETF (XOP) Do You Need A “Pure” Gold Miners ETF?