$PAAS Pan American Silver Looking to Break Through

Pan American Silver Testing 200 DMA

One of the disappointments in silver’s recent move higher has been the lack of follow through from mining stocks, with Pan American Silver being a premier example. This past week has seen Pan American attempting to close that gap. The price of PAAS has made its first test of the down trend line and the 200 day moving average, and horizontal resistance is also in sight. The recent bullish momentum on the RSI is also encouraging.

I would look to be a buyer on a break of these levels.

Chart Above Made Using TradingView

About the author

I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Coeur D'Alene, Idaho, with my wife and five children, where I spend my time hiking, charting, and changing diapers.

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