Silver and gold tend to move in tandem so this is not breaking new ground. See my post on Gold... link below
This is a monthly linear chart. Keep that in mind. The proposed move will take some time for momentum to develop.
As labeled on the chart I am expecting a 3rd wave down of "C" to commence soon. Commensurate with gold.
Price pattern is strikingly similar to the 1970's-'80s advance and unwind...
A move over $30.5 will break the short trade.
See Blue chart below for my projected target price..... 618 fib of wave A. Roughly $8.5.
This is a monthly linear chart. Keep that in mind. The proposed move will take some time for momentum to develop.
As labeled on the chart I am expecting a 3rd wave down of "C" to commence soon. Commensurate with gold.
Price pattern is strikingly similar to the 1970's-'80s advance and unwind...
A move over $30.5 will break the short trade.
See Blue chart below for my projected target price..... 618 fib of wave A. Roughly $8.5.
Note
Kinda has that sinking look to it...Note
Metals have advanced to the limits of make or break... Here is a very long term Silver line chart... You know my bias.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.