Share
35 Posts.
lightbulb Created with Sketch. 18
clock Created with Sketch.
22/09/18
18:11
Share
Originally posted by aldo
↑
I am an avid fan of silver.
I have been looking at the price action over the last few days and it seems to have an upward trajectory.
At the time of writing the price in US dollars is $14.37 and this is well above the recent lows.
When you consider the Commitment of Traders report and the fact that J.P. Morgan is now going long on the paper market it would appear that the price of silver has only one direction to go.
Under the trading patterns from the last few months Silver would have normally been smashed down at this point, so it seems as if there has been a momentum change and sentiment move towards the bullish side.
If this pattern holds and there is a daily move upwards of a few cents every day then there will be an increase in the speed at which the silver price increases.
I believe next week will give confirmation to this price action reversal. If it holds next week then we are finally going to see some big upwards moves.
I predicted a price of $50 per oz by the end of the year and I still believe that optimistic target is still achievable.
If not I will issue a public apology and eat humble pie.
Expand
Silver Gold ratio 85:1 for a start - hugely undervalued. Sure gold is a preferred safe haven but much more upside in Silver. I've been buying, will convert my silver to cash and or gold when the time comes - sooner than later by the looks of it.