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Key precious and industrial metals find themselves facing key resistance after a stellar 2010. As I shared yesterday, the percentage gain that Silver (see post here) has made after the breakout, is where Silver ran out of gas in the past. I shared yeterday that I would attempt to protect gains right now! For aggressive investors, will be looking to score on defense due to the patterns above.
Do you see a rising wedge approaching completion in basic materials etf (IYM) dating back to midsummer or so?
Looks like there is a pretty well-defined rising wedge on the monthly.