WPM: BREAK OUT OF HUGE WEDGE
Updated
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally.
The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects.
The Russian invasion of Ukraine has brought some tensions in international markets.
With Russia being a major source of raw materials, metals and other commodities, the Russia-Ukraine crisis could affect the supply of these materials to the world and cause major inflation.
WPM seems to be a good hedge against inflation and market volatility for the following months.
Technically WPM is coming out of a huge wedge and could start a strong uptrend. Risk/reward ratio is good because u can place a stop loss below the breakout level.
All levels/resistances are on the chart.
Trade safe.
The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects.
The Russian invasion of Ukraine has brought some tensions in international markets.
With Russia being a major source of raw materials, metals and other commodities, the Russia-Ukraine crisis could affect the supply of these materials to the world and cause major inflation.
WPM seems to be a good hedge against inflation and market volatility for the following months.
Technically WPM is coming out of a huge wedge and could start a strong uptrend. Risk/reward ratio is good because u can place a stop loss below the breakout level.
All levels/resistances are on the chart.
Trade safe.
Trade active
Nice trade so far
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