Wednesday, September 7, 2011

Silver & Silver Wheaton (SLW)

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Gold appears to be putting in a possible Double Top and pulling back into its +/-10% 200dma historical trading range. Thus pulling silver down with it...oil is rallying along with equity markets. Silver Wheaton hit resistance around $41 as ITZ highlighted several days ago, putting in a H&S pattern on daily chart, however in the 4 hour chart silver is testing the lower end of a channel.

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