Gold & Silver are about to breakout to much higher levels and confirm that they have actually been in a stealth bull market for some time. Gold is more developed and closer to it's all time high around 1900. Silver has been so suppressed for so long it has a lot more catching up to do. Both are about to have major breakouts with a large run coming soon. The chart of silver, not surprisingly, looks almost like a mirror image of the chart of my favorite stock, CDE. Almost, all of the many other gold & silver mining stocks that I follow have either broken out already or are about to do so. The metals will not be far behind. BUY. Chartsmaster
@Spokoze, Excellent. Just be sure you hold on for the big move. If you are a short term trader(?) Trade around your core position with 10-20% of your position. Don't get cute with your core holding because if you sell you may not be able to get back in without having to pay up substantially. Silver is about to embark on the greatest BULL Market in financial history! Good luck. Chartsmaster
Oh_If_Only
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@chartsmaster, I admire your optimism and you may well be correct. But perhaps you are mildly over zealous with your " ... greatest BULL Market in financial history!" claim.
Perhaps you are too young to remember the commodity bull markets of the 1979/80 when silver rallied from $6 to $50. Gold was $800 and this was the time of the second oil boom. I was working with a Texan petroleum reservoir engineering co based in West Europe Africa. Ahhhh those were truly the days (pine, pine pine ...) but I digress.
There is some serious congestion at $17.20 it needs to digest first; then maybe a pull back to $16.80 to test the breakout before we see another upside attempt. ... just sayin ... but we shall see
... just my "conservative" 2c worth ....
chartsmaster
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@Oh_If_Only, I have been studying markets & charts for over 50 years. You talk about congestion & pullbacks for short term targets, what does that have to do with my comment? I described a long term bull market that will develop over a number of years and you are talking about short term trading moves. I didn't say it was going to new highs in just a few days. This will be the greatest bull market in financial history when silver and gold get to where they are going. Be patient and good luck. Chartsmaster
Oh OK.
I am looking at your Daily chart and you say " ... are about to break out"; " ... about to have major break outs"; " ... large run coming soon"; " stocks have already broken out ... metals not far behind".
So you don't give a timeframe but the inference is "imminent" or soon. Daily charts are generally just that ... not for peering months or years into the future otherwise you would use weekly or monthly or longer. So I was reading your comments and the inference from what you said ... just sayin ...
... just a (short term) 2c worth ...
chartsmaster
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@Oh_If_Only, The chart comes up on Tradingview when you make a post. I don't select longer term charts I use the one that comes up. That doesn't mean I don't look at others before I post. I did say that the metals particularly, silver were about to breakout, silver was up 5-6% for the week after doing nothing for months. It is a breakout, the start of a bull market. The entire bull market is just beginning. Chartsmaster