Silver appears to be nearing the end of wave 2 (correction) and wave three to begin there after.
I think we could see a dip in the price down to $20.55 before rebounding sharply. If momentum is sustained look for it to touch $41
Silver could be the number #1 performing asset of 2021. In the larger scale we have the completion of a cup and handle formation that...
Today, we're looking at SILVER.
Silver, along with Gold are in the early stages of a multi year bull market rally.
Looking at the daily, we could see a break out and the start of Wave 3 before the the end of September but could be delayed a week.
In the longer scale, going back to the late 1970s, we have the biggest cup and handle formation I've ever seen....
I have no doubt President Trump will win re-election in November. Landslide victory.
When this happens, expect previous metals to (really) explode as fiat goes (further) into hyper supply and tensions with China escalate further.
Fun times ahead.
Might see a small pull back to $1630-1680 first though.
Looking at SILVER, the price is nearing the end of this triangle.
In my view, poised for a break out. Some other interesting allignments also taking place.
Fibbonnaci time, when measuring the last wave, indicates the potential reversal zone around Sept 28th.
I would consider that more of a range though. Figure sometime between End of August and early December,...
In my view, stocks are priming for their next leg down.
This one sends the SP500 to retest the recent lows. Maybe not immediately, but eventually I expect to see the price tough sub 2000 down to 1828.
If 1828 is the bottom, this would represent a 50% retracement and where I would enter the market.
However, don't use all your powder because 1459 and sub 1000 are...
I expect to see stocks make their next leg down and soon.
Month of April 2020 if not in the next 2 weeks.
Targets are the boxes. I think we'll hit the at least top two orange ones.
Target 1: 18169. A retest of lows.
Target 2: Fresh low. Dow 14,708
This is my target for a (dead cat?) bounce.
Based on the data, currently available, I would put some money on...
I'm very bullish on GOLD and SILVER for 2020 and beyond, but first the price is about to move down. Dollar is going to get stronger, despite QE4.
Price target ranges are the orange boxes.
A price of $1100 would be an amazing buying opportunity.
From there - see my previous analysis with a price target of $3k
Long term, I'm very bullish on SILVER.
Short term, however, the price may decline down to the high $10s. If this happens, this will be a great buying opportunity.
The price could also remain around current support of $14.20
In either case, however. we could see a reversal/transition into the next wave up that takes the price to at least $70 by end of May...
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Monthly view of the 10 year yield here.
Yield touched current levels in 2012 in anticipation of QE3.
Again in June 2016 over Brexit.
3rd time in August/September of trade war.
4th - Coronavirus? I would bet this is this what initiates the break down.
10 yr around 1% or lower coming soon?
My previous version of this chart had a US/China trade "deal" leading to higher rates. This happened.
However, the China virus out break has shocked the market and many are doubting China's ability to meet trade obligations.
Plus, this virus is scary as hell. I mean, flu with modified HIV like?
Is this weaponized Flu aids? Glad I'm in the middle of the US.
Curious that the SP500 is exactly at the 2.618 advancement line when measured from the pre 2009 crash to the bottom.
This method is useful in predicting market tops on the next cycle.
The next major fib resistance level is nearly 4000 so I would expect a pull back from here.
Might not be at this EXACT moment, but around here will do.
This is an update to previous ideas charted at New Years 2019.
The 10 year yield has been following the path of lower yields in a lock step fashion, however the pace of declining yields is concerning. The 3 day looks like Niagara Falls
Where do we go from here?
Currently, the 10 yr yield is in the middle of the 1 (1.32%) and .786 (1.734%) retrenchment...