1/2: SLW update - Wave x rally in progress

SLW update:

With the U.S. House of Representative and the U.S. Senate passing a Budget Agreement (only a short-term fix to the structural deficit issue), we are finally getting the jolt of impulsive energy that I've been expecting in the metals complex and Silver Wheaton has displayed very strong buying power in the past 2 days of trading.

Notice that we've now recaptured the moving average on the daily Bollinger Bands (very bullish) and we are now battling to capture the $37.30 short-term resistance level. It appears to me that SLW wants to test the upper Bollinger band level around $38 and I believe that we will see short-term resistance once we get there, possibly falling back to test the $37.30 level again.

In general, I am still expecting SLW to make it all the way to the red rising resistance trendline in the coming weeks (near $40/Wave x)... then fail to capture it... and ultimately collapse to one final Wave (II) low near the support clusters around $32.