Silver Miners have lost over 50% since the highs back in 2016. Is this large of a decline enough to present a buying opportunity?
No doubt the multi-year trend for SIL remains down at this time. The long-term decline and the decline over the past few months has it testing last years lows again at (1). While testing the lows it finds itself at the apex of a falling wedge pattern at (1). Is a “Double Bottom” being attempted by SIL at the 2018 lows? It is too soon to tell, yet it is possible.
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