We recently fell back to a long time low on Silver. Using pure technical analysis, I can see 3 major points where we could find a reversal, not including the current double bottom that may result in a reversal right now. Looking more a logical reasons why silver will go up, my recent research on mining prices are a big signal towards a bull market. Estimates on mining costs for an ounce of silver come to between $5.80, and just over $15. That means we are reaching the point where some companies are taking no profit on their silver mining. If we don't recover soon, companies will begin going bankrupt. The supply of silver will diminish greatly, and will no longer be able to meet demand. With the supply decreasing, and tech companies, and investors trying to get silver, the price only has one direction to go. That is up. I intend to buy at each flat green line on it's way down. At the lowest line, I intend to put every cent I have into silver. I see no possible way for the price to drop below $5.
Careful. Your plan is logical problem is the market is illogical in a manipulated asset. Many times has silver been going for below all in sustained cost of production.
atherises
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@Bullion_Money, That is fair. I figure if it does go down to $5 or below, I will just keep adding to my portfolio. It will be the discount of a lifetime. Imagine choosing between a burger and an ounce of silver. Happy days!
jeffreyjim
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"Excellent Post" --- Thanks
Your downside targets are very reasonable.
Silver one Wave Count to think about.
"B" Wave Triangle may have ended April, 2018 high at $17.3555 ?
Wave "C" down Started April, 2018 at $17.3555 ?
Should be 5 Waves down. Wave 3 of "C" down bottomed September 11, 2018 at $13.94
Silver maybe completing 5 Waves down from the April, 2018 high at $17.355 ?
Missing Wave 5 of "C" down to bottom.
If this Wave count is correct ? A large up move should start when Wave 5 bottoms ?
Let's see if this Wave Count is correct ?
"One Eye Jim"