Silver to $50

On the above monthly chart Silver has corrected over 35% since the year began. A number of reasons now exist to begin accumulation. Why?

1) A ‘incredible buy’ signal prints. See weekly chart below. Not since September 2018 has such a strong signal like this printed.

2) A strong Dragonfly DOJI candle printed with the close of July. This told us $18 was very strong support.

3) Price action is printing within a bull flag. It could be another year before a breakout is seen, however, long positions opened between $18 and $20 should see great returns with the Bull flag Flagpole measuring out at $50.

4) Lastly the monthly Gaussian Channel (below), which has recently changed to green. Prior to publishing this idea confirmation of support on the medium line as in 2009 was required.

Is it possible price action falls further? For sure.

Is it probable? No.

Ww

Type: trade, <$20 is fantastic
Risk: <=6% of portfolio
Timeframe: 1 - 2 years
Return: $50 then $150 if $50 becomes support

Weekly chart

Monthly Gaussian channel

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** target update ** Now 45 dollars.

Price action traded inside the bull flag longer than expected until breakout. This resulted in the new target. Price action is up 25% since publication. By far if you're a metals person then holding silver trumps gold in 2023, I don't know why exactly that's just what the chart is saying.

2-week chart

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Some folks are having difficulty in understanding how a 150 dollar target might be achieved. Truth is the majority of the studies published publicly do not include the detail, that is for elsewhere / others. In this idea the 150 dollar area comes from study of the higher time frames, in particular the 3-month chart. In all probability a 200-220 target shall be achieved IF 50 becomes support.

Yes it is hard to believe. However in my opinion a currency reset is on the way with significant devaluations. These targets might not be that significant down the road as them seem today if a horrible MacDonald burger + coke costs 50 dollars at drive thru.

3-month

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A good moment to be long.

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Support confirmed.

The path to the target is highly probable.

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As active as it is going to get

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support confirmed

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Support under test.
If price action prints candles below $20, market structure is broken and the idea void. The sell off from 25 was massive.

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