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Pan American Silver Chart Says Short Me

This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Recent price action has broken the triangle pattern on the gold bugs index:

One of my favorite shorts, and one which I augmented yesterday, is Pan American Silver Corporation (symbol PAAS). You can see how clean the breakdown has been. This one, I think, is a keeper.

Past long-term price history suggests months of lower prices ahead.

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