Silver Cup and Handle - $90.00 USD Target?
Silver has a clear cup and handle formation present (and looking to be resolving) on the monthly chart.
Given the price action in silver recently (check out my earlier analysis which predicted this most recent surge as well as the move up in gold in July) it is worth looking at the longer-term trajectory for silver to determine whether we should be selling, buying or staying on the sidelines.
It is worth noting that pattern analysis is an art, not a science, however it is a fact that the longer the time frame the pattern is observed (e.g. monthly vs. daily patterns) the more validity is tends to have.
The measured move from the base of the cup to the ridge of the cup pattern projects an eventual target of close to $90.00 USD (well north of 300% from present levels)
With this in mind, this pattern will likely resolve over YEARS, not weeks or months, but given the strong tailwind that this could provide for silver and silver associated investments, it is worth considering how you will play (if at all) this market.
Given the price action in silver recently (check out my earlier analysis which predicted this most recent surge as well as the move up in gold in July) it is worth looking at the longer-term trajectory for silver to determine whether we should be selling, buying or staying on the sidelines.
It is worth noting that pattern analysis is an art, not a science, however it is a fact that the longer the time frame the pattern is observed (e.g. monthly vs. daily patterns) the more validity is tends to have.
The measured move from the base of the cup to the ridge of the cup pattern projects an eventual target of close to $90.00 USD (well north of 300% from present levels)
With this in mind, this pattern will likely resolve over YEARS, not weeks or months, but given the strong tailwind that this could provide for silver and silver associated investments, it is worth considering how you will play (if at all) this market.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.