Friday, April 29, 2016

Market Watch: SLV

Take a look at the historical chart for Fortuna Silver Mining FSM and you can see the advantage of buying after a break out of resistance. Fortunately Silver hit this level in 2012, 2014 and retraced both times. If you had bought at this level either time you would have had to take a loss or keep dead money until now 2017.

Will FSM retrace from this resistance zone again or break out, further what is a definite break of resistance?  I don't know,  but I will not be a big buyer until FSM proves that it can hold above say $6.75 area. I currently hold 100 shares which I will let go of it they fall close to the 200 dma, or that blue line.

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