I think it is time to publish my LONG TERM view on Silver. I believe within next couple of years we will witness a complete sentiment change on Silver as we getting out of depression phase of a market cycle. This change will manifest itself in a great rally to at least peak price of 2016 year which is $21. Later it will gain much more after possible retrace.
As can see on a chart, after breaking downward a huge triangle pattern, which was forming almost a year, silver bounced up significantly and started to form a potential Double Bottom pattern. This makes me think that we will not see prices significantly lower than 2018 and 2015 lows. That is our floor. On the up side, the rally will gain momentum after breaking triangle's apex level at around $17. Meanwhile, since it's a long term view, I would advise slowly accumulate long position on deeps.
Manage your money properly and Good Luck with your trades!
As can see on a chart, after breaking downward a huge triangle pattern, which was forming almost a year, silver bounced up significantly and started to form a potential Double Bottom pattern. This makes me think that we will not see prices significantly lower than 2018 and 2015 lows. That is our floor. On the up side, the rally will gain momentum after breaking triangle's apex level at around $17. Meanwhile, since it's a long term view, I would advise slowly accumulate long position on deeps.
Manage your money properly and Good Luck with your trades!
Comment:
Silver has a lot of potential on this chart.