Silver held firmly above the crucial $26.60 support level thanks to an overnight rally precipitated by the Egyptian unrest. Unrests are good for precious metals and this could look like a game changer catalyst. CCU also held strongly -the 50c transaction was just brief and in small volume and closing on the high on a day of market weakness does seem to suggest that the worse is over.
Management's impeccable delivery timing of its quarterly report which suggest impending financing announcement in the next month, is a very timely shot in the arm.
Upward move tomorrow, if followed by a higher silver close above US$28 and stronger trade volume, would be I reckon bullish for the stock.
My sentiment for the stock has turned positive although I am somewhat concerned about a near term overall market correction. There will be plenty of economic news from US this week - not necessarily a good thing.
CCU Price at posting:
53.9¢ Sentiment: LT Buy Disclosure: Held
