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Silver Wheaton Corp. Message Board

  • dj28rd dj28rd Sep 24, 2013 12:50 AM Flag

    Multiple Chart Patterns

    According to the 6 mo d chart, SLW has 2 large chart patterns that you should be aware of. One is the Ascending Broadening Wedge now located between 23.74 and 33.64. The other is the Falling Wedge located between 16.77 and 28.53. These figures will change as the patterns continue to develop. The Falling Wedge could go lower. Watch to see if 23.74 can hold. This is the lower trendline of the Ascending Broadening Wedge. Strong possibility it will break.

    SLW also has open gaps at 23.29, 19.34, and 17.78. Gaps are filled 95% of the time. It doesn't matter how long it takes. GL

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    • Well, SLW now has a Falling Channel located between 17.25 and 21.20. The gap at 23.29 has now been filled. Other gaps are located at 19.34, 18.89, and 17.78. I have a feeling it will double bottom at 17.78 or close to that area.

    • Interesting, Thanks for the post. I have a TL from 17.75 to yesterdays low . Calendar days so the spaces are there for the weekend, 5 touches, so a strong TL, if yesterdays low breaks, 20.75, 17.75. 17.45, 15.20 and 14.54 are the support. hoping double bottom is worse case! Trendline down from 29.17 / 27.25 makes the triangle, has to break before long! Today is the day to test the downtrend line 26.88 is abt max, congestion zone 26.47 and 25.66 seem more likely.

27.82-0.87(-3.03%)Sep 23 4:02 PMEDT