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Silver Headed Back To $50, Top Of Cup-And-Handle Pattern?

Published 08/06/2020, 11:16 AM
Updated 07/09/2023, 06:31 AM

Could silver be creating a multi-decade bullish “cup-and-handle” pattern? Possible!

Did a retest of a handle breakout take place in March at (1), where silver created one of the largest bullish reversals in decades? Possible!

Could silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40 years and I haven’t seen anything like this.

Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, silver lost over two-thirds of its value, as it closed below $15 several times.

During this decline, it looks possible that it formed the “handle” over a nine-year period. A breakout and then a retest of old resistance as new support took place at (1) in March, where silver created one of the largest monthly bullish reversal patterns in decades at (1).

Following this large bullish reversal pattern at (1), silver has blasted off of late.

Where does the next long-term resistance test for silver come into play? The 1980 and 2011 highs at $50.

If silver is creating a multi-decade bullish pattern, the upside target for silver is way beyond the $50 level!

Latest comments

Great to see this "oldish" post play out well with silver just very briefly passing last years high to hit a 7 year high. If it really does close about 30 in the next weeks then there is little in the way to $50. If the cup handle pattern plays out then target is around $70.
Will silver top at $50 or go higher you think?
much higher
Precious metals are necessary to preserve wealth. If you don't own any you are taking a big risk. We have enjoyed an expanding economy for the last 40 years, most of it artificial. Growth by debt does not work. More debt has been the answer for Government, business, people for the last 40 years. How should it end?
Silver will shoot past $50 easily. Economic conditions are worse than previous pops. Dollar is spiraling down & the demand for gold/silver is just beginning
Slv 45 dollars probablly in less than 45 days
and btw those holding, or especially buying, here deserve any further pump from here. to risk buying here when this is likely to dump massively at any time truly deserve any gains. i do not even say that sarcastically, if you are buying silver at $20+ and gold at $2000+ when it was $12 and $1200 just a few months ago, you truly deserve any further profits if you are gambling buying this massive pump.
for the record, silver is up 50% in price in the past 2 weeks
Silver will break $50 by the election. Get in now before we truly go to the MOON!
i really do not see any reason the USD would continue to dump into the election, usually we see more money going into USD especially with recent bond activity. that being said, i am happy to be wrong. although i have sold my bullion on this pump. i have several other investments that would benefit from further decline in the USD
Because this is exactly what Trump wants. Remember his attacks on Powell about weak dollar and strong stock. Now FED is pumping enormous amount of money into market. Part of it goes to stoc, part to gold and silver. Anybody shorting indexes is fighting FED and here can be only one winner. Gold and silver are colateral investment, but on fire. My target for gold is 2600 and silver 49.
you will regret selling physical bullion in the near future. But there should be a pull back shortly. Problem is physical is 10-20% over spot right now.
precious metals get a pump once every 10-30 years, historically has been terrible investment long term. good to hedge against USD, but terrible advice to chase....especially with premiums in bullion. those who have made profits on this pump can benefit from the USD dip and look to reallocate to better yielding investments. we always see these headlines that say "MOOOOOON" when it is pumping, and "SELLLL" when it was half the price.
its funny hearing the crypto and bullion people argue, since they are both saying the exact same things MOON LAMBO GOING TO $10000000!!!!! crypto has strongly outperformed bullion though, with BTC up 300% from March lows. most stocks have also outperformed gold and silver from March low recoveries.
Very thorough analysis.Thank you.
$120-150 is possible. Base was $5 back than. Now it was $12-15. It did a 10X. Why couldn't do it 11 years later?
100 $ an ounce is a start of the new silver age 👍
Yeah dude, I observed this possible pattern as well in my personal analysis (amateur analysis), and the break above 50 could take silver´s price to 96
Silver will go much higher than that.. The money that goes on right now, worldwide.. Is way more than the crisis.
Sorry.. "the money printing"..
Out of the woodwork like this author. Hasn't even dented $30, yet here we are, him boldly claiming $50 is in the cards. The cart in front of the horse
$50 isn't a matter of if but when at this point, I say it happens next year.
Keep in mind people were saying $30 by the end of the year and now it's "$30 by the end of the week"
Platinum is about to go parabolic ✌️
nice👌
wow Sir G 👍 mind-blowing
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