Bollinger Band Squeeze on Silver
Updated
To add further weight to my previous ideas on Silver (see related link below), we can see Silver being squeezed into a tight bollinger band here on the Weekly chart. Every time in the last decade the BB squeezed in this tight, Silver broke UP out of the squeeze, and the average minimum jump has been around 35%. This would bring it up to over $21 (we also had this type of squeeze right before the ATH run up to $50).
Not a short term move here, but Silver is looking strong for increasing value in the coming months/years. Note also that Silver has been consolidating above a resistance line that has held since the early 2000's.
Not a short term move here, but Silver is looking strong for increasing value in the coming months/years. Note also that Silver has been consolidating above a resistance line that has held since the early 2000's.
Note
Sorry, accidentally set the price range tool so that it was showing a price decrease when they are actually increases.
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