Wednesday, December 12, 2012

12/12 - SLW climbing towards resistance

Silver Wheaton (SLW) is making its way upward towards the RED resistance trendline..

I would not be surprised to see a very strong attack on the line (and perhaps a temporary piercing of the line), however, I do expect this attack to fail. If the attack does fail, my next target for SLW is the $32 level... where I am projecting an important Wave (II) low and the beginning of Wave (III) in SLW, which should take the stock to new all-time highs.

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