SLV Long

Silver has broken out of a multiyear descending triangle pattern to the upside. Typically a descending triangle is a bearish pattern so for it to be foiled and having gone to the upside is extra bullish. Moreover, silver entered a bullish falling wedge pattern right after, back-tested the initial triangle's resistance-turned-support and continued upwards. There is likely going to be some consolidation/corrected in the very short term but as far as long term is concerned, silver has only up to go. Silver is also trading at roughly 93:1 compared to gold. This ratio has been proven to be a bottoming signal for silver before in the 90s before it corrects to a ratio of roughly 40:1.