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SLW Climbs to New Three Year Highs Ahead of Earnings


Silver Wheaton Corp. (SLW) reports earnings Wednesday after the close, and then on Thursday morning will have an 11 AM Conference Call.

Based on the pattern carved out off of its 10.11 low in Jan, SLW points still-higher in reaction to the news-- into the $33.00 target area prior to my expectation of the emergence of some profit-taking, and a correction that could return the price structure to revisit its major upside breakout level in the vicinity of $26.50.

In other words, SLW has the right look of a price structure that is entering the final upmove of the initial major upleg of a new bull phase.

If that proves to be reasonably accurate, then the ensuing correction will provide another significant buying opportunity ahead of a climb to $42.00 - $45.00.

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