Hey everyone, i thought i would share my idea on silver.
Silver has had 2 x ATHs in its history. Both times hit at about $50 Once in 1980 and the othjerr 2011.
I think silver is well undervalued and think it could easy hit its ATH but this time will set a record new ATH.
Ive kept my anylisis simple on this one, just basic support, resistance, trendlines and moving averages.
So firstly the measured move from 1976 to 1980 played out from 1995 to 2011.
I now have set 2 more measured moves, the big one in green and the smaller one in blue.
The small measured move would take us to $50 ATH but then with a retrace its probable that it will hit new ATH.
But a bit of confluence would be the 200 MA it is trading above it and the moverages averages are getting tightly squeezzed, due a move up.
Another confluence would be the cup & handy thats been forming since the last ATH in 2011 its in its handle right now which looks to me is ready to break out to the upside.
As i always say this is all probability, and definetly not financial advice :)
Silver has had 2 x ATHs in its history. Both times hit at about $50 Once in 1980 and the othjerr 2011.
I think silver is well undervalued and think it could easy hit its ATH but this time will set a record new ATH.
Ive kept my anylisis simple on this one, just basic support, resistance, trendlines and moving averages.
So firstly the measured move from 1976 to 1980 played out from 1995 to 2011.
I now have set 2 more measured moves, the big one in green and the smaller one in blue.
The small measured move would take us to $50 ATH but then with a retrace its probable that it will hit new ATH.
But a bit of confluence would be the 200 MA it is trading above it and the moverages averages are getting tightly squeezzed, due a move up.
Another confluence would be the cup & handy thats been forming since the last ATH in 2011 its in its handle right now which looks to me is ready to break out to the upside.
As i always say this is all probability, and definetly not financial advice :)