SILVER
Added 2024-04-05 12:28:30 +0000 UTCSilver has cleanly broken above its previous high at $26 and we saw some movement during the night to attempt a retest of the green line again, the price went as low as $26.20 and bounced but this pull back may not be complete yet, as we know, pull backs happen in 3 waves.
So a further retest of $26 and we have a higher support level and further confirmation of this larger impulse count and another opportunity to add which I will be strongly considering and moving more cash into Silver.
Silver has significantly lagged Gold but they follow each other in economic cycles, there is an argument out there that Silver was suppressed for a long time due to the supply of this precious metal....but recent accounts have argued that the supply may not be in abundance as once thought, which may account for the strong movement lately.
Comments
I don't think those targets are realistic. My targets for both are more in line with historical projections
Gareth Neary
2024-04-05 16:13:30 +0000 UTCWhat do you think about gold-silver ratio? Looks like there is a consensus that it should be around 50.. which means silver should be $46 already. I've seen some "crazy" forecasts: gold hitting $5k and bringing silver to $330 with 15:1 ratio). Your thoughts?
Mohammed Mamoun
2024-04-05 16:05:04 +0000 UTCI was not aware of this, nice Luc
Gareth Neary
2024-04-05 14:36:32 +0000 UTCAlso, electric cars depend heavily on silver. Each EV contains between 25 and 50 grams of silver.
Luc
2024-04-05 14:07:39 +0000 UTC
