Point & Figure Charts are really good at identifying a stock's stage. That is, accumulation (Stage 1), advancing (Stage 2), distribution (Stage 3), and selling (Stage 4). For $SLV, its current stage is "selling, or Stage Four." That is why the recent rally would simply be categorized as a throw-back to resistance at $24 to relieve an overbought condition within a Stage 4 phase, which is clearly observed with a Point & Figure Chart.
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