If SP breaks below 1.15, expect SP to drift to 1.12 and perhaps its also the 200 DMA line. But, first support is at 1.165.
IMO SP will continue to trend sideways. This will build the foundation for an upward move to make a higher high above 1.20, to continue with the short term uptrend momentum. If these materialises, then the price actions would confirm the IHS on the Daily chart, and the start of a medium term uptrend.
Watch the MACD for signs of further strength or weakness. I see strength in the horizon.
SLR Price at posting:
$1.18 Sentiment: Buy Disclosure: Held
