Silver hit our target and ready for the next rally to $27.00

2023年1月9日

in 2022, Silver hit our target price of $24 this was due to a break up and out of a Triple Bottom (3 Rounding Bottoms).
Now we see a new Bullish Diamond formation on Silver.
We just need to wait for breakout
Target $27.00
Fundamentals:
Analysts predict that gold and silver will perform well in the new year as the Federal Reserve is expected to cut interest rates in the second half of 2023. This is due to the belief that a recession is imminent, which will reduce inflationary pressures and lead to falling interest rates. Chief North America economist Paul Ashworth of Capital Economics stated that despite the Fed's current hawkish stance, they still expect interest rates to decline by the end of 2023.