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
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Paperback: 128 pages
Author: Shelley Allen, M.A.Ed.
Publisher: Fibonacci Inc.; 1st edition (2019)