joepegler

FRESNILLO PLC Reversal

LSE:FRES   FRESNILLO PLC ORD USD0.50
The stock
LSE:FRES - Worlds largest primary silver producer.

The thesis
XAUUSD has been on a pretty strong run over the last five years, and always does well during turbulent times or when banks turn to QE . There's every indication the FED & other central banks will be printing money like it's going out of fashion over the next few months/years. Silver prices follow Gold (with higher delta) and silver stock prices follows silver (with higher delta). The GOLDSILVER ratio just had a blowoff top signalling a potential reversal in fortunes for GOLD's shiny little cousin.

The TA
Poking it's head above a 4 year trend line after a high volume inverted hammer at a key level of long term support potentially signals a reversal.

Comments

breakout confirmed?
Reply
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