Silver bullish break out, mid 30s target, 50-60 potential
Its taken a long time, but silver has finally shown life toward the upside.
Bullish moves in silver have taken 8-10 years in the past to fully play out.
If 2020 marks the beginning of the bullish move, then this move could last until 2030.
Bullish head and shoulders pattern could target silver to the mid 30s level.
If silver shows continued strength, then the 50 level will be a simple target for investors to eye and aim at.
Macro news is the concerns of geo politics and delayed rate cuts due to higher inflationary costs. Flight to safety is good for precious metals and inflation concerns make metals attractive as a inflation hedge.
Bullish moves in silver have taken 8-10 years in the past to fully play out.
If 2020 marks the beginning of the bullish move, then this move could last until 2030.
Bullish head and shoulders pattern could target silver to the mid 30s level.
If silver shows continued strength, then the 50 level will be a simple target for investors to eye and aim at.
Macro news is the concerns of geo politics and delayed rate cuts due to higher inflationary costs. Flight to safety is good for precious metals and inflation concerns make metals attractive as a inflation hedge.