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Bullish wicks at support can be create nice buying opportunities. A month ago Premium Members took advantage of bullish wicks in stocks and took “Pocket Change Gains” here. (see post here)
Silver is hitting dual line support, at the same time it is hitting the 23% Fibonacci support off the move from $3 to $50 and looks to be creating a “monthly bullish wick” at this key price zone.
Silver has lost about two-thirds of its value in the past three years. Is the bottom in place? Too soon to tell. This is a monthly chart, so we won’t know the results how how this pattern plays out until the end of the month.
Members picked up SLW two weeks ago yesterday and its been a good run so far. I would be honored to have you as a member, if buying/trading in the metals complex is of interest to you.