This ETF is ‘coiling’ in advance of a breakout, says Carter Worth

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This ETF is ‘coiling’ in advance of a breakout, says Carter Worth

(Check out Carter’s worthcharting.com for actionable recommendations and live nightly videos.) I’m playing silver for a prospective breakout. Silver: unchanged the past 12 months – and major laggard to gold – is judged to be “coiling” in advance of a breakout to new 52-week highs. We like the set-up here and would play on the long side for a move to, and above, $31. 1-Year Comparative Chart SPDR Gold (GLD): +42% iShares Silver (SLV): +15% SLV: coiling in advance of a prospective breakout. Buy for a move to, and above, $31. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

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#ETF #coiling #advance #breakout #Carter #Worth

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