tangman
Long

[Long] WPM, Inverted Head & Double Shoulder

NYSE:WPM   WHEATON PRECIOUS METALS CORP
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Wants to test 28.50

Breakout above 28.50 => tests 30.90, breakout over that = precious metals bull market

Gold & Silver are bullish against a fundamental backdrop of rising inflation and slowing growth (hello ISM print this morning). Streaming companies especially are one of the safer plays in the Gold Mining space, as they have no actual mining operation to worry about (or at least are diversified across 100+ mining streams). They also benefit from depressed Gold & Silver prices because they are able to secure more attractive streams. Explains why RGLD and FNV have performed so well even through Gold's bear market.

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