Silver Forming Bullish Ascending Right Triangle Pattern
I've been following Gold and Silver for sometime. However, I've never published a Silver TA chart. Mainly because Silver's reversal pattern is actually a continuation pattern, so the fact that it reversed, would have thrown anyone off who looks at TA alone. Lucky for me, I don't look at TA alone and had a feeling Silver was reversing before it did.
But before I get into why I'm even more Bullish on Silver then I used to be, let's talk about Risk Management.
- Nothing is certain, and despite the bullish pattern forming between $21 and $28, you have to keep in mind that this same pattern signalled a reversal in the previous years. So there is a chance that Silver hasn't reversed and it's just rallying. This is possible and could result in lows as little as $10 per ounce.
But come on, likely? NO.
Could we see $20 or $16? Yes, but you would be a lucky buyer.
Fundamentally Bullish:
1) I call this the "Information Age" (i.e. Stone Age, Bronze Age, Golden Age). Silver is SUPER Handy. Being used in electronic technology on the rise. Often a bonus of mining. Not many open a silver mine (yet). People open Gold, Iron, Copper, Aluminium mines, and Silver is one of the treasures they receive as a consequence. With phones and computers constantly being upgraded, combustion engine vehicles and especially electric vehicles, expect to see Silver shoot through the roof. Demand always will remain high as long as we are using computers and sensitive electric technology.
2) Recession, precious things become harder to get, and hyper inflation means even if it remained similar value for years, the price would still go up because it requires more cash to buy it as cash is losing value.
3) Jewellery and Medicine.
4) Non Corrosive, Non-oxidising, reasonably chemically stable, malleable, amazing conductor, very handy indeed
5) Silver tends to follow Gold. Yeah Gold has had a bit of a down turn, and the only reason I would expect to see a dip is because of this reason. and it did follow slightly, and it could go more, so what, buy the dip I tell myself... and lets not forget COPPER. BOOM ATH! If Copper is booming and Gold is booming. On the periodic table Silver is directly in between them, and they all have similar properties and use cases. I think Silver will go up in value simply because Copper is now more expensive. Do you want a Copper wound motor, or a Silver wound motor... or a Gold wound motor, that would be fun? Copper cannot catch Silver, and has to rally higher if Copper continues to rise.
Fundamentally Bearish...
1) well because... ahh... hmmm, I got nothing. Please Help me community, why would silver go down in value?
One ounce of Silver is as big as the tip of your pointer finger. It is so easy to buy, and easy to store. For $30, you can own some silver bullion. Just say'n.
But before I get into why I'm even more Bullish on Silver then I used to be, let's talk about Risk Management.
- Nothing is certain, and despite the bullish pattern forming between $21 and $28, you have to keep in mind that this same pattern signalled a reversal in the previous years. So there is a chance that Silver hasn't reversed and it's just rallying. This is possible and could result in lows as little as $10 per ounce.
But come on, likely? NO.
Could we see $20 or $16? Yes, but you would be a lucky buyer.
Fundamentally Bullish:
1) I call this the "Information Age" (i.e. Stone Age, Bronze Age, Golden Age). Silver is SUPER Handy. Being used in electronic technology on the rise. Often a bonus of mining. Not many open a silver mine (yet). People open Gold, Iron, Copper, Aluminium mines, and Silver is one of the treasures they receive as a consequence. With phones and computers constantly being upgraded, combustion engine vehicles and especially electric vehicles, expect to see Silver shoot through the roof. Demand always will remain high as long as we are using computers and sensitive electric technology.
2) Recession, precious things become harder to get, and hyper inflation means even if it remained similar value for years, the price would still go up because it requires more cash to buy it as cash is losing value.
3) Jewellery and Medicine.
4) Non Corrosive, Non-oxidising, reasonably chemically stable, malleable, amazing conductor, very handy indeed
5) Silver tends to follow Gold. Yeah Gold has had a bit of a down turn, and the only reason I would expect to see a dip is because of this reason. and it did follow slightly, and it could go more, so what, buy the dip I tell myself... and lets not forget COPPER. BOOM ATH! If Copper is booming and Gold is booming. On the periodic table Silver is directly in between them, and they all have similar properties and use cases. I think Silver will go up in value simply because Copper is now more expensive. Do you want a Copper wound motor, or a Silver wound motor... or a Gold wound motor, that would be fun? Copper cannot catch Silver, and has to rally higher if Copper continues to rise.
Fundamentally Bearish...
1) well because... ahh... hmmm, I got nothing. Please Help me community, why would silver go down in value?
One ounce of Silver is as big as the tip of your pointer finger. It is so easy to buy, and easy to store. For $30, you can own some silver bullion. Just say'n.
