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Silver Wheaton Corp. Message Board

  • llllorac llllorac Mar 29, 2014 12:54 PM Flag

    Where will support come.

    I'm a long term silver bull looking to build my position in SLW... I have a buy in for more at 20.25....I'd appreciate bull and bear comments. Traders, what do charts say right now to you?

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    • 20.36 was my buy target and I got some Th. I'm looking for silver spot to retrace to 50 DMA around 20.50 which should carry SLW to the 50 DMA around 24. The big question is whether silver spot is allowed to get back above the 200 DMA around 20.87. If that happens, SLW should easily make trip back to the 26-27 area. If silver spot breaks down on near-term attempt to go after it's 50 and 200 DMAs, then silver spot back to 18 or lower IMO. Max pain for SLW Apr options is currently sitting at 25 which supports a near-term run to 24+ GLTY.

25.15-1.00(-3.82%)1:25 PMEDT