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Completed Correction for SLW?


Silver Wheaton (SLW) plunged beneath yesterday's low at 43.38 to 43.19 this morning, but did not follow through to the downside. Instead, it has pivoted to the upside into a strong rally to 44.73 so far.

This is powerful initial evidence that the decline from yesterday's high at 46.00 into this morning's low at 43.19 (-6.2%) represented a completed correction within the current upleg from the 37.85 low on March 16.

A climb above 44.95 is needed to trigger a higher confidence signal that a new upleg in fact is in progress.

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