Pan American Silver Corp. (PAAS) has hurdled its December high at 27.31 on the monthly chart, at the same time that spot silver has broken above its long-term resistance line (from 1980) at 19.46. If silver prices accelerate to the upside, PAAS should benefit and climb towards 35.00, again on a big-picture, monthly chart basis. On an intraday chart, PAAS remains above its near-term support plateau, although the gold sector appears to be taking a bit of a breather as it breaks two-day support.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.