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Silver Shrugs Off Attacks

By Korbinian KollerCommoditiesNov 21, 2021 12:24AM ET
www.investing.com/analysis/silver-shrugs-off-attacks-200609017
Silver Shrugs Off Attacks
By Korbinian Koller   |  Nov 21, 2021 12:24AM ET
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The list is long of arguments why silver prices haven’t advanced further yet, or might never take off. Market manipulation is one of them. While there is evidence that markets have always been manipulated, prices have eventually reached appropriate price levels.

Another recent attack is a news item claiming Bitcoin is to replace gold as an inflationary hedge tool, which in turn would have a substantial effect on silver. The market cap of all digital currencies is at US$3 trillion, and that of gold is US$11.7 trillion. In a US$615 trillion market cap world, gold and Bitcoin are a tiny niche. They can coexist with their relatively small size and their intrinsically different usefulness, primarily through performing various functions.

Silver weekly chart - strong along with gold

Silver Weekly Chart As Of Nov. 20, 2021
Silver Weekly Chart As Of Nov. 20, 2021

The weekly chart illustrates price behavior over the last 15 months. Silver prices are trading near the center of the sideways range.

Gold weekly chart - rumors shrugged off

Gold Weekly Chart As Of Nov. 20, 2021
Gold Weekly Chart As Of Nov. 20, 2021

The weekly chart of gold isn’t much different from where prices stand. In short, there is no evidence that gold has lost its luster. Otherwise, we would see silver trading in a relationship much lower. Rumors are just that—rumors! Silver is shrugging them off.

Silver quarterly chart - room to go

Silver Quarterly Chart As Of Nov. 20, 2021
Silver Quarterly Chart As Of Nov. 20, 2021

A historical review with a quarterly chart over the last 18 years reveals that silver prices can sustain extreme extensions from the mean (yellow line) for extended periods. Using the extreme of the second quarter in 2011 as a projective measurement (orange vertical line) for an upcoming target would provide for a price target more than 10% above all-time highs at US$56.

In addition, the chart shows that we find ourselves in a strong quarter so far, which is in alignment with cyclical probabilities.

Silver weekly chart - prepping the play

Silver Weekly Chart As Of Nov. 20, 2021
Silver Weekly Chart As Of Nov. 20, 2021

Let us return to the weekly time frame for a possible low-risk entry scenario with this target in mind.

We find a supply zone based on fractal transactional volume analysis near the price of US$24.11 and US$22.65. Both attractive entry zones for excellent risk/reward-ratio plays.

It will not be rumors, doubts, and speculations that will be the catalyst for silvers’ success or failure. It isn’t a question of “if,” but just a question of “when” we will see the next massive price advance in this precious metal. The odds are stacked too much in favor of a continued price movement up that the long-term investor should let doubts allow for diverging from a splendid opportunity to partake in wealth preservation and a very profitable way to participate in a chance rarely presented this prominently.

Silver Shrugs Off Attacks
 

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Silver Shrugs Off Attacks

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Comments (2)
Cathy Bartlett
Cathy Bartlett Nov 21, 2021 8:44AM ET
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With this administration it won't take long. Communism does that expeditiously...
Cathy Bartlett
Cathy Bartlett Nov 21, 2021 8:41AM ET
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Once the dollar collapses, Silver will be infinitely more valuable. It happened with the Romans, Weimar Germany, Zimbabwe, Venezuela, Etc etc... It's not a matter of IF but WHEN!!!
 
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