With the impending economic collapse, I believe that Silver and Gold are both going to perform very well, as they usually do. As people exit their stock positions, and with a weak looking dollar, people are going to want to put their money somewhere profitable, and their best option for making large profits are commodities. So in general I think commodities are going to perform very well, Silver likely being one of the best. The reason I am posting this chart is to highlight a few key features that make silver an exceptional opportunity during this crisis.
All of these indications build a good case for long-term bullishness on Silver. There may be minimal downside left but think it is very likely near the bottom of the downtrend in this range, and It may be a good idea to start taking position soon. I will definitely be keeping an eye on it for any major movement or trend reversals. Breaking out of the outer channel is likely to signal the end of the down-trend, any downside from here is likely to be extremely minor. At this point Silver going up is just a matter of when not if
- Bullish Harmonic Bat Pattern
- Bullish Momentum Divergences
- Rounded bottom
- Support zone
- Breaking out of down channel
All of these indications build a good case for long-term bullishness on Silver. There may be minimal downside left but think it is very likely near the bottom of the downtrend in this range, and It may be a good idea to start taking position soon. I will definitely be keeping an eye on it for any major movement or trend reversals. Breaking out of the outer channel is likely to signal the end of the down-trend, any downside from here is likely to be extremely minor. At this point Silver going up is just a matter of when not if
