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Actionable news in SLW: SILVER WHEATON CORP,

Silver Prices Coiling, Sizable Move In the Making

DailyFX.com -

Highlights:

  • Silver prices continue to lag behind gold
  • Symmetrical triangle developing could soon lead to powerful move
  • Size of formation dictates a move below $13 or above $15 following a breakout

Silver prices continue to lag materially behind gold, with the past month of price action wedging silver into a symmetrical triangle. The lag in performance between the two precious metals is due to gold’s standard of being a safe haven asset during times of market distress – Of which we have seen plenty lately.

It will be interesting to see how gold reacts on indications of short-term stabilization in global financial markets, when in fact they do. Can it hold or will it fold? How will this impact the future of silver trade given the typically trustworthy correlation to one another? Questions which may not be answered in apparent fashion.

Enter the before...


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