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Silver can't escape macro pressures – continues secular downtrend (Part 2 of 2) (Continued from Part 1) Falling wedge pattern
The falling wedge pattern could be seen in the May silver futures contracts. Silver prices were trading at the lower part of the wedge pattern on March 10, 2015. Prices are experiencing downward pressure due to the appreciating dollar and weak industrial demand.
Pivot points for silver
Bearish sentiments are ruling the precious metals market. Silver may break the nearest support of $15.50 per ounce. The support was formed by prices hitting this mark in November 2014. There are limited chances for a rise in silver prices—unless any positive news drives the prices higher. Bullish traders could see resistance levels at $16.50 per ounce. Prices hit this level several times in February.
The falling wedge pattern in the silver price chart suggests that a downward breakdown could push prices to levels of $14.50 per ounce. Otherwise, prices could trade between $15.50 and $16.50 per ounce in the near term. Bullion market sentiments will be down due to the rising dollar. This will make the commodities expensive.
The RSI (relative strength index) and MACD (moving average convergence divergence) are technical indicators. The RSI suggests that the price could move higher. The MACD suggests that prices could fall more.
Lower silver prices impact silver companies’ margins—like First Majestic Silver Corp. (AG), Silver Wheaton Corp. (SLW), and Pan American Silver Corp. (PAAS). They also affect silver ETFs like the iShares Silver Trust (SLV) and the ProShares Ultra Silver ETF (AGQ).
For the latest updates, visit Market Realist’s Gold ETFs page.
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PRODUCTEUR |
CODE : PAAS |
ISIN : CA6979001089 |
CUSIP : 697900108 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Pan American Silver est une société de production minière d'argent basée au Canada. Pan American Silver est productrice d'argent, de cuivre, d'or, de plomb et de zinc au Mexique, au Perou, en Argentine et en Bolivie, en développement de projets d'argent et d'or au Mexique, et détient divers projets d'exploration au Mexique et en Argentine. Ses principaux projets en production sont QUIRUVILCA MINE, HUARON et MOROCOCHA au Perou, LA COLORADA, ALAMO DORADO, LLUVIA DE ORO et DOLORES MINE au Mexique, SAN VICENTE en Bolivie et MANANTIAL ESPEJO en Argentine, son principal projet en développement est LA PRECIOSA au Mexique et ses principaux projets en exploration sont ORO BLANCO, EL DURAZNO, SAN ANTONIO ORO BLANCO, SANTA LUCIA, REAL VIEJO, PLANCHAS DE PLATA, LA DURA, LA RESERVA / EL CORREO, LA VIRGINIA GOLD/SILVER, LA CRUZ et LA BOLSA au Mexique, FLAMINGO, ESPEJO, REGALO, NAVIDAD, CALCATREAU, HOG HEAVEN, WATERLOO et LOMA DE LA PLATA (NAVIDAD) en Argentine, RIVER VALLEY PGM au Canada et PICO MACHAY au Perou. Pan American Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 968,8 millions (870,8 millions €). La valeur de son action a atteint son plus bas niveau récent le 07 novembre 2008 à 10,01 , et son plus haut niveau récent le 18 septembre 2024 à 20,42 . Pan American Silver possède 47 442 200 actions en circulation. |