Friday, December 28, 2012

12/28: Silver Wheaton analysis/short-term prediction

Good morning,

Below is the same chart of Silver Wheaton that I posted on 12/24, along with arrows indicating my wave predictions for the next few weeks/months. I still anticipate a rally to resistance near $40, followed by a final selloff to approximately to the $32 support level to complete Wave 1 of Wave V (Elliottwave count).

I suggested the SLW $37 JAN Calls yesterday as a possible speculation and/or the stocks of Silver Wheaton, Silver Standard Resources, First Majestic Silver, SLV - the silver ETF, and AGQ - the leveraged silver ETF... as more conservative short-term silver investments on the potential rise over the next few weeks.

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