WPM is outperforming
For about a month, WPM – Wheaton Precious Metals Corp. – is going through a consolidation phase as it moves roughly between 26 and 28, the blue box.
After the last time, though, price touched the lower side of the box, price quickly moved above its 10- and 20-day exponential moving average. In fact, with a huge candlestick it closed above the upper Bollinger Band.
This is an indication that the bulls have decided to push price up again.
In fact, our momentum indicator, MACD, has already crossed above its signal line and moved to positive territory.
What is more, WPM’s Relative Strength has been moving up and mostly above its 20-day exponential moving average since the end of May.