Although I’ve given gold bulls a tentative green light to trade the rally begun on Friday, the chart of this stock looks less auspicious. Bulls and bears are in ‘dueling’ mode on the hourly chart, but bears held a small edge as the week ended. My target is the 25.13 Hidden Pivot shown, but SLW can be traded from either side of the market as long as it conntinues to oscillate near the downtrend’s midpoint pivot at 26.04. The ‘camouflage’ technique will be needed in any case to reduce risk, and so I’ll suggest doing your hunting on the 5-minute chart of less if you’re looking to initiate a trade.
