Looking at the iShares Silver Trust (SLV, quote) ETF from the viewpoint of a technical standpoint the SLV is testing its previous high of $34.05 as bullish momentum grows and possibly for the next few days.

Strong Relative Strength (RSI) along with a rising 20 day moving average is setting up the chart for a nice trade.

Bottom Line:

Consider buying $33.80 or better with a upside target of $36.25 and set Stop Losses at $32.75

Looking to leverage the position in the options market? Register for free and check out a way to play the iShares Silver Trust in the option market.