SLW nearing channel support
Silver looks like it may be putting in a top, but some of its miners are nearing support. SLW is perhaps the best-known equity proxy for silver – as a mining “streamer” it is a pure play on the price of silver. It has consolidated during silver’s latest run higher, and is now nearing channel support that has been in place for nearly 2 years.
I don’t know if I’m ballsy enough to buy here, given that silver may be ready to violently sell off, but it’s certainly worth noting and keeping an eye on.