Silver Wheaton Catches A Bid

This morning gold and silver are trading slightly higher during the morning trading session. The move higher in the precious metals are not as strong as one would expect with the sharp decline in the U.S. Dollar Index. Often when the U.S. Dollar Index declines so sharply the major stock indexes, and most commodities will soar higher.

Silver Wheaton Corp.SLW is a leading silver streaming company. This stock will usually follow the action in silver. Today SLW stock is trading higher 0.98 cents to $39.42 a share. Short term traders can watch for intra-day resistance around the $39.80 level and more resistance around the $40.50 area. Both resistance levels could see small pullbacks.

Nicholas Santiago
InTheMoneyStocks.com