Why focus on only the last 4 trading days. SLW has gone up 26% in one month. That's a fairly stellar rise but it is now pushing above its upper Bollinger band. Sure it could keep rising but a little correction/consolidation at this point could give it the legs for another big rise just down the road. So will it...should it...correct for some to buy in at lower prices? Who knows for sure?
Ugh... what is it with most of you people? Do you people read and think? The slope of the ascent the past four days was TOO STEEP; much steeper than the previous several weeks. It is looking like exhaustion... No, I can't be certain it can't rise a few more days. No, I can't be certain how much it might drop, BUT... the BOTTOM of the July 19 channel is a good bet! AND YES, SLW WILL BE A MUCH, MUCH higher stock someday... I just think the odds of such a rise are not that great. The entire miner complex is up almost as steeply; yes silver is up and could keep going up.
AND silver did not break out to a new high... it is still below June 21st... yes, September and October are usually good for PMs, but... that does not mean there can't be a drop before continuing... silver looks like it moved too fast as well the past 5 days.