First Majestic Silver (AG) Price Analysis

With Precious metals and miners on the cusp of a breakout (see here and here), one name that I like the look of is AG.

Weekly chart shows that all trends are broken and the daily chart below, shows a symmetrical triangle in the process of being broken, albeit not confirmed until's price closes outside the pattern on the day.

I also like the fact that AG failed to make a new low in September vs its February low, along with the other miners, showing strong relative strength.

If the breakout holds, I think initial, intermediate term target is around the top of the trend channel at the 38.2% retrace of the cyclical swing lower. Beyond that we can start to consider higher targets. Much will depend upon where the precious metals meet selling pressure.