Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Silver Breakout Adds to Massively Bullish Price Pattern

Published 04/04/2024, 03:20 PM

I like what I am seeing of late in the precious metals space.

Gold has broken out to new highs… and now silver is beginning to show strength.

Today we take a look at a long-term “quarterly” chart of Silver, as it seems that something BIG might be brewing.

As you can see, Silver took 31 years to form a very large “cup” pattern, and the last 11 years forming what appears to be a “handle”. If so, this would be a massively bullish “cup with handle” price pattern.

Zooming in, we can see that Silver is attempting a “handle” breakout at (1). If this is successful, it would be very bullish and likely propel Silver to the top of the cup with handle formation near $40. Above that level and Silver is off to the races. Stay tuned.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.