tangman

[Long] WPM backtesting small breakout

Long
tangman Updated   
NYSE:WPM   Wheaton Precious Metals Corp
Instead of chasing the move late last week, one could have waited to see a backtest today. This can be a spot for fast positions.

It can trend toward 31 before hitting larger resistance.

I don't think it stops at resistance, because of the extremely strong gold/silver bull market. But, 31 would be a place to reduce leverage or reduce risk.
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So, faster positions would have been a bad idea as it further consolidated for about a week.

Longer positions, no problemo. We are pushing higher now as fundamentals have re-asserted themselves with Gold blasting higher. $31 still in sights.
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