The crucial resistance has been broken. After more than 45 years, $965310 hits a new ATH at $51! What's next?
On the 50 year chart this means a breakout of the cup/handle pattern. Which indicates we could see significantly more gains. My target is well into the tripple digits, why?
- The 2011 high of $50 ajusted for inflation is $75 dollars.
- The 1980 high of $50 ajusted for inflation is $160 dollars.
- During previous highs of silver the gold/silver ratio was extremely low. While right now the gold/silver ration is extremely high, which indicates silver has to outpace gold the coming years to match the previous bull markets.
- Masive short positions on $SLV (+0,97%) could trigger a short squeeze
- Less silver is mined every year (including recycling)
- More silver is required by industries every year
- This means the yearly deficits are only getting worse from now on
- Add to that, increased retail investor demand because of FOMO
This all means a perfect storm for silver.
What are your plans? Selling to take profit? Buying more? Or just hold and enjoy the ride. Let me know.
