A revision to V3, that sees this current 1-5 wave and subsequent ABC shortened by a fib ratio.
Also, have added a fib channel to show the expected price of silver over the next few years.
Now just need wait and see ;)
An update of a previous chart.
Just a bit more of a play with time frames, although the core 16 year cycle is still solidly in play.
Most interesting thing to note was the .38 ratio in play between the big movements.
This is the after affects of Gold standard removal in 71 coming home to roost, incredible.
Silver is forming a bullish ascending triangle with the potential to break out in the coming days or weeks. It may be possible to get another rejection on the resistance line, but I would imagine as the economies of the world reopen and velocity of money starts to pick up, inflation will drive silver up to old highs this year. Long/hold position is wise at this...
This is a real possibility now that the downtrend for the last month or so is about to break. We are also seeing great weakness in the gold/silver ratio which means we should see silver outperform gold in the coming months. Therefore $21/oz is possible should the gold/silver ratio drop to around 70-77 depending on the price of gold. Watch the breakout.
Expect the gold/silver ratio to leap higher as silver underperforms Gold. Gold will rally but silver will remain muted, at least for a while. Then as the Gold/Silver ratio hits resistance at around 100 a clear buying opportunity for silver will emerge. Gold should rally as the Gold/Silver ratio collapses and therefore Silver is a screaming buy at these levels....
Silver looks to be breaking out from its short term downtrend. This will have long term ramifications on the gold and silver bull run. Expect much higher prices for both Gold and Silver by year end. Silver especially will be very volatile. Load up on silver miners as they will benefit the most from this.
Gold/Silver ratio looks to be topping out against strong resistance levels. This should see the trend reverse quite sharply as Silver is incredibly volatile. Should therefore see much higher silver prices in the latter stages of 2018.