SSO – Silver Standard Resources – Tricky Chart

The chart of Silver Standard Resources has some good and bad indicators.  On the negative side, the uptrend line going back to October appears to have been violated.  However, it is a fairly steep uptrend line, which may not be realistically sustainable, so I don’t believe it’s breakdown is a cause for serious concern.

We are still above the 50 day moving average, and the MACD is improving.  Also, the fundamentals for silver are still good, and we are entering the traditionally strong time of the year for precious metals, so I’m holding.