Rounded Base For Silver Wheaton (SLW)

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By Mike Paulenoff | Published 01/31/2011 | Futures , Stocks | Unrated

Rounded Base For Silver Wheaton (SLW)

Despite today's weakness, Silver Wheaton Corp. (NYSE: SLW) continues to act well off of last week's low at 28.85.

All of the action in SLW looks like it is morphing into a rounded base-like pattern that has the potential to propel prices towards 34.00, if the price structure climbs and sustains above key near-term resistance at 31.60/70.

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

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