Following-Through to Safety

The precious metals and their miners have been mired in a bear market for a good while now, albeit with bounces offering fast, actionable pops at times. But those bounces have been repeatedly sold, usually leading to a sharp rollover before the pattern repeats itself. 

In order for the complex to see a meaningful change in character, I suspect names like premier silver miner, SLW, will need to follow-through and hold rallies at least over $19. On the daily chart, below, note the potential double-bottom (light blue line), a pattern which has repeatedly failed for miners in recent years.