Commentary: We took a >SLV) ETF just cleared an important >Is Silver The New Gold?)

Commentary: We took a >SLV) ETF just cleared an important >>Triangles: A Short Study In Continuation Patterns)

The Bottom Line
It’s usually a good sign when an entire group moves in unison, as it usually has institutional money behind it. The silver miners are all basically shadowing the precious metal and with silver recently clearing some resistance, it could be setting the stage for a miner rally. This, coupled with the fact that the miners have held up better than most other sectors could be pointing to higher prices for the group. Traders should monitor how these stocks react to the top of their current bases, but any breakout above resistance could lead to a fast move higher.