lucamodena
Long

SILVER to hit 100 $ till the end of this decade?

FX:XAGUSD   Silver / U.S. Dollar
Hi All,

This is a long-term, extremely bullish and insanely obvious (due to fundamental stuff which I will not cover here) view on the price of SILVER             .

First of all we are approaching the long-term ascending (blue) trendline which was tested several times during the course of the last (almost) 20 years.

For the last 5 years the RSI is following a similar trendline and now it is about to touch it and bounce UP again!

What is more we have a MEGA-GIGANTIC harmonic GARTLEY pattern . It's TP point is around 35 $. Additionally we have a smaller harmonic BAT pattern which is in play right now (you will be able to see it easily on the daily timeframe ).

I really think that this is a great long-term entry point!

Why I think Silver             is due to hit 100 $?... Well frankly speaking I think it will go much much higher - but this is based on my fundametal approach on the current macroeconomic enviroment in which we live. From a technical perspective let's have a look at the Fibonacci extension of the lows of 2001-2002 and the spike of March 2008.
We can clearly see that the Fibo extension 2.618 matched exactly the ATH             of April 2011.

If history repeats itself - and I believe it will - we can obtain the new ATH             by taking the Fibo 2.618 extension from the low of 2008 to the high of 2011... do the math :)

I hope it helps.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out