Silver Wheaton hit the first major resistance level in today's afternoon trading.
As you can see from previous posts below, I had inserted a horizontal resistance line at $38.33 to notate this first level of resistance (which also happens to be the 50-day MA on the daily chart, namely $38.21).
I still expect SLW to attack the RED resistance trendline in the coming days, but to fail and then eventually fall to a Wave (II) low near $32.
As you can see from previous posts below, I had inserted a horizontal resistance line at $38.33 to notate this first level of resistance (which also happens to be the 50-day MA on the daily chart, namely $38.21).
I still expect SLW to attack the RED resistance trendline in the coming days, but to fail and then eventually fall to a Wave (II) low near $32.
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