JJP - SLV: Bearish Headfake Is A Strong Buying Opportunity

• The metal broke below down trendline support last week amid broad-based weakness in metals, but the downside break has since been nullified by a relatively strong bounce.
• Silver is now trading at record low levels based on its historical correlation with gold and the commodity complex.
• While rising U.S. real bond yields and lower gold prices are a risk, these factors have not prevented significant silver rallies in the past from similar valuation extremes.
• The SLV has a proven track record of tracking the silver price and stands to benefit greatly if the metal recovers as the technicals and fundamentals suggest.

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