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Silver Miner Curling Higher off Support as Breakout Nears

by | Dec 3, 2024

Pan American (PAAS) shares of the quality silver miner are curling higher off the lower edge of monthly value area test the past week and put in a strong bull candle on Tuesday as the silver stocks outperformed gold. That relationship could expand from here as silver is more tied to industrial demand that is seeing tailwinds from a stronger economy continuing. PAAS is also about to trigger a bull MACD cross higher and a breakout above 23 likely can see momentum back up to the highs near 26 for a trade into year end. PAAS saw a buyer Tuesday for 750 April $24 calls at $2.00.

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