similar to gold , in my opinion silver is shortly bevor a historical turnaround, signed with a blue tradingbox in the chart above, which can be used to place longorders. Now we should prepare for it. Why should we believe in that? Because of the sentiment, which is worse than at the end of 2015 as silver built a superordinate bottom (corrective wave 2 form April 2011 to December 2015). That and the suspicious rise of the indicates, that silver is shortly bevor a turnaround.
Moreover, when the turnaround comes and J.P Morgan stops to short silver massively as it has done the last few years, there can be no doubt that we will see new highs. J.P. Morgan is one of the greatest owner of physical silver . The company has been using every opportunity for years to buy physical silver at every low. So, I ask you, why should a big bank buy a dead asset? That should give us food for thought!
Where we are standing?
In December 2015 we saw a superordinate corrective wave 2 ending at 13.62 USD (it lasts from April 2011 to December 2015). After that, silver started a bullrun to 21.19 USD (wave 1 of wave 3), followed by a corrective wave 2, which ended not at 15.42 USD in July 2017, as I first thought. Instead we are still in the end of it (last corrective wave c of 2). It is important to know that every 1-2 setup in the chart is the basic pattern of every impulsive wave character. Third waves are most likely the strongest and the longest waves. Now, we are shortly bevor the beginning of wave 3 of 3.
What I want to say is: it’s time to prepare for a very long longtrade. I think silver will turn in the blue tradingbox and then will rise above 21.19 USD easily. The goal of the superordinate wave 3 could be between 50 USD and 60 USD – no joke! So, we are shortly bevor a longtrade with a multi-year holding period. When it comes to a crash in the 20ies and/or a war, much higher. A crash trough all important indices in the 20ies is not that unlikely by the way (as I mentioned in my gold-analysis already. Please check the link below for further information).
We will find further possibilities to place orders, but we should already use this chance to get a foot in the door earlier than most of the investors out there.
Please leave a comment or a message, if you have any questions.