Leading Silver Indicator Breaks Out, Signals Positive This Week
Chris Kimble | Nov 08, 2014 11:27PM ET
As goes the leading ratio indicator of Silver Wheaton Corp (NYSE:SLW) vs iShares Silver Trust (ARCA:SLV) often times, so goes Silver!
Most are well aware that the metals complex has been very weak of late, with Silver leading the way to the downside. What has been even weaker than Silver over the past 60 days? Silver Wheaton, to the tune of almost twice as weak.
The SLW/SLV ratio of late met dual support points and then turned higher, breaking above steep falling resistance. In the short-term, this is a positive signal for the Silver complex.
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