Silver Miner Curling Higher off Support as Breakout Nears
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.