Wednesday, December 28, 2016

Silver Miners (SIL) In Bullish Declining Wedge With 2017 Starting With A Bang

In the words of Sarah Hyland, "I'm officially joining the bandwagon of how 2016 can go fuck itself." Nowhere have I found a more apt description for this year as I too can't wait for it to be over. What does 2017 hold? Well, looking at Silver Miners ETF SIL a bullish declining wedge seems to be developing so apparently precious metals might be starting off with a bang. Divergence on the momentum indicators has appeared for three months now something is obviously brewing. Our first move should take us from around $30.00 to around $36.00, but please be cognizant that we are still in a larger declining which might not be finished.