Monster Silver Rally Brewing

On silver’s 1-year chart we can see that a fine large Double Bottom is completing. We already had the breakout on good volume from the 2^nd trough of this Double Bottom in the middle of February, and it was this event that has (rightly) caused traders to pile into silver, although the price hasn’t moved much – yet. The better silver stocks, on the other hand, are already on fire, because the “writing is on the wall”. Right now the price is consolidating following the breakout in a fine tight Flag formation, from which upside breakout looks imminent.

Silver $21.46

How far is next major uptrend in silver likely to carry? – to figure that out we turn now to the long-term 14-year chart, which shows silver’s entire bullmarket to date.  (more)Please share this article