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PAAS Pan American Silver Corporation Long Opportunity

Pan American Silver Corporation Long Opportunity

Published: 06-12-2018

We have entered a long position on XAGUSD last month. We reached the first target, however, Silver could not break the main resistance. But the midterm trend appears to be Bullish.

17.50 remains as the main resistance and break out of this level will accelerate the bullish move. Additionally, we see an increase in the non-commercial long positions.

We see the similar structure on Pan American Silver Corp based on silver production and mining.

On the daily charts, stock stuck in a triangle and 18.70 is the critical resistance.

In the shorter term chart timeframe – H4 – it’s completed double bottom and 17.70 is the resistance/support.

We plan to enter long trade with the break out of the 17.70 resistance targeting 18.70.

The real bullish rally will start at 18.70. Closing above 18.70 may carry the stock’s price 19.90, 21 and 25.00.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

                                                   Chaetreaderpro.com
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PAAS Pan American Silver Corporation Long Opportunity:  Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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