At BMR, we are long-term Silver bulls. Silver, which closed Friday at $29.77, is trading about 10% above a very strong support band and is now attempting to break out from the top side of a wedge as John shows in the chart below. We believe it’s only a matter of time before Silver regains its bullishness after months of consolidation.
There are several several producers we like and we’ll be reviewing them in the near future. For the more adventurous, our favorite speculative Silver play under 20 cents is little-known Rainbow Resources (RBW, TSX-V) which has a market cap of only $4 million. We expect Rainbow to make some noise with a promising Silver-Gold land package in the West Kootenay region of British Columbia, particularly if the Venture Exchange heats up this quarter which we now anticipate it will.
