SLW in red shows that false upside breakout we see so often. In white, today has lost downside momentum, opening the door to a correction to the upside.
On this 60 min 3C chart, you can see the false breakout in the red box as 3C puts in a negative divergence on an important 60 min. chart. The leading divergence to the downside suggests there will be future trouble ahead for SLW longer term.
The 30 min chart confirms what we see above on the 60 min chart, from the false breakout to the current negative leading divergence.
Oddly, the 5 min chart is showing strength, it makes sense with today's daily candle losing downside momentum, but not so much with the 1 min chart.
I'd think we'll see a correction bounce, possibly in line with the broader market. Longer term, SLW appears to be in some trouble.
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