Silver technicals and structure has an intact bullish makeup
The long-term analysis shows that silver has cleared all major resistance and should follow gold to a new all-time high within the next 6-12 months, possibly much faster.
The macro fundamentals are supremely bullish:
XAGUSD
SILVER
The long-term analysis shows that silver has cleared all major resistance and should follow gold to a new all-time high within the next 6-12 months, possibly much faster.
The macro fundamentals are supremely bullish:
- Negative interest rates and the beginning of a global currency war/easing cycle/competition to devalue.
Massive fiscal stimulus is on the horizon in the next 3-5 months, and not just in the US. Rest of the world is starting to catchup.
The long-term global trend towards electric, clean, and renewable energy and the sheer amount of investment required to change our energy infrastructure will require that silver goes parabolic, along with many other commodities.
There's not a lot of silver in the world. New production takes time, cannot happen overnight.
A Biden win / blue wave will mean marginally more open global trade, which is bullish commodities. It will also mean something like a green new deal, infrastructure spending, and stimulus that could cause the US economy to overdose.
XAGUSD
SILVER