nibs81

WPM (Wheaton precious Metals) Cup and handle Continuation

TSX:WPM   WHEATON PRECIOUS METALS CORP
Although short term i anticipate that price action falls with Gold /USD struggling with the $1950-$2000 area. Profile damage i believe will not be long lasting. Cup and Handle pattern in play with a continuation breakout of 56.77. I have used Fib retracement levels from the base of Cup to current pull back levels to gauge depth of handle ( RSI similarly down-ticking on daily suggesting more short term downside although personally believe to be minimal)

Initial Price Target following Breakout is 76.52 which ties in with previous ATH , and the cup upper and lower boundary range height. Further upside targets anticipated on WPM .

T1= 76.52
R1 = 56.77
S1 = 53.75
S2 = 49.65
S3= 45