Early forecast for 2024, SILVER will be MUCH HIGHER.
In recent weeks I have started to accumulate SILVER and a number of precious metals mining stocks. I believe both will be going much higher over the net year+.
Currently $23+ I believe we shall see $26+ by early 2024 followed by $30+ over coming quarters.
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One week in and 5% higher. I think the move has just started getting some momentum and we could see $26 before year end and $30 in 1H 2024. Buy any pullback.
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Updating the chart from 5 months ago, Silver now roughly 25% higher and still looks like it has a lot more legs. May get some pause here around $30 but I favour adding on pullbacks. Conservatively would look for $33 but possibility it goes MUCH higher as commodities tend to overshoot.
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Silver has now had the pullback (approx 10%) I expected from close to $30 and now looks to be stabilising/energising for the next leg higher to above $30 in the coming weeks. I'm buying here at $26.80 looking for perhaps 20% higher in the next leg. Stop 5% lower below $25.50 giving roughly 4:1 R/R.
One week in and 5% higher. I think the move has just started getting some momentum and we could see $26 before year end and $30 in 1H 2024. Buy any pullback.