Pan American Silver update

The expected dip for PAAS mentioned in my last update on it is likely happening right now.  Here is the long term chart.  As you can see, it has recently broken out.  The shares are now likely doing a back test.  I suspect that the back test will appear to fail, thus allowing the shares to fall below the trend line again. 

But instead of continuing down, I expect them to A-B-C and then stop somewhere in the $12.50-$12.90 range into a second wave that could be about the level of the prior 4th.  If this model holds, the subsequent wave will be a powerful move up to break the trend line decisively once and for all, thus confirming the entry into the new bull market.  IF the shares ever fall back below this line after breaking out as shown, all bets are off.  That means that if you buy the dip into black 2 and then the break out happens then you can just set your stops just below that green trend line and forget it.