Monday, January 23, 2012

Afternoon Thread



SLW daily chart. The green arrow points to Oct 31 which was the MFG announcements of accounting mess, which played havoc with commodities trading in general. SLW went on to form a neat little head and shoulder pattern, but out of that made a nice double bottom, filled the gap and is heading up into resistance. This could make a nice trading vehicle for a while and keep your attention on the precious metals space.