SLV Forecast 5/23/16

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The Silver Proxy (NYSE:SLV) has broken out to new highs and is working its way through a broad correction. We would expect to see it bottom out in the next week and begin a rally back up to the highs. As it rallies, we will be able to measure the energy coming into the markets on the bullish side and know whether to take profits or hang on for a break to new highs.