The time it took for silver to drop from $50 down to the consolidation phase was 770 days. I predict a similiar amount of time will be required to take the price back to old highs.
The rough arc pattern tends to agree and the major and medium support lines are keeping the price in control for now.
My expectation as inflation becomes uncontrollable, the silver price will explode next year and new highs will be made the following year.
Possibly, but that would mean a 100% price increase. Do you really think this is possible in such a time window?
jrbauer24
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Great charts!
TraderCaps
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Another interesting chart. Some of my colleagues are extremely bullish on silver also.
I wonder if the the supply chain surpluses which may happen early this year (from too much hoarding, and ramping up production etc. while supply chains normalize); may have some deflationary influence on the CPI in the meantime, causing the fed to chill out for a minute, before CPI comes roaring back later this year.
Time will tell, just a thought I had the other day.
WinstonWolfe
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@TraderCaps, Industrial plus investment use cases for silver. In an supply chain with constant constraints due to shifting trade policies and coronavirus, plus inflationary pressures, could combine in a perfect storm to push silver prices much higher. Especially considering how much metal that will be needed to Build Back Better.
TraderCaps
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@WinstonWolfe, haha the classic build back better. Yes this is also what my colleagues are seeing; the industrial use case, apparently especially for green energy, as well as like you say the investment case..