Friday, June 25, 2010

Silver Wheaton Review

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Itz Stock Chartz has been bullish on Silver Wheaton (SLW) and silver over gold for 2010 based on the metals value as a precious metal & also on its industrial usage...the best of both worlds. A new ETF came to market this week SIL & Silver Wheaton is ranked as it's 2nd largest holding. The stock has held above it's 13-ema near term and is once again approaching the $21.50 resistance level. Itz believes it will breakout here and rally higher, the Point & Figure chart (PnF) price objective is $27.50.
From Wall Street Journal: Silver Expected To Follow Gold Prices And To Rally Faster: Industrial Use Of Silver To Be The Price Foundation As World Economies Pickup ~link~

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