Metals Morphing Into Something Scary

I will have more on the precious metals themselves later. But as a general proposition that snapback rallies since the April “crash” have been uninspiring across the board in the sector. Chart patterns can and often do morph. And in the case of premier silver miner Silver Wheaton, the snapback rally has morphed into an ominous bear flag. These are not slam-dunk patterns, guaranteeing lower prices 100% of the time, but with the daily chart Bollinger Bands pinching in another leg lower is likely going to start soon if it is indeed in the cards.

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