Many lament as gold continues to forge ahead, apparently soon to hit the highs, while silver seems to languish, continuing to get smacked down over and over again. A weekly look comparison however shows that Silver has pretty much tracked gold over time and is poised to break out to the upside.
Again, patience continues to be required as the potential for more sideways action is possible. The weekly line chart shows the possibility of a reverse head and shoulders pattern that can drag this out for yet another month or so before the next leg up. There is no telling on this though. I've been long over the past few years and it seems that whenever I want to throw in the towel and sell some of my paper silver, it shoots up the next day.
I have to keep reminding myself that selling at 17 or 18 is not why I am accumulating a position both in the paper products, mining and streamer shares, and physicals. The very long term channel shows prices hitting 70s and some suggest even 100 or better.
As one commentator on YouTube suggested, it only takes one company producing solar panels or some other product that depends on silver saying that production has slowed due to their inability to get enough silver. At that point, our only risk is that the government confiscates our silver due to National Security concerns. Hope not.
Again, patience continues to be required as the potential for more sideways action is possible. The weekly line chart shows the possibility of a reverse head and shoulders pattern that can drag this out for yet another month or so before the next leg up. There is no telling on this though. I've been long over the past few years and it seems that whenever I want to throw in the towel and sell some of my paper silver, it shoots up the next day.
I have to keep reminding myself that selling at 17 or 18 is not why I am accumulating a position both in the paper products, mining and streamer shares, and physicals. The very long term channel shows prices hitting 70s and some suggest even 100 or better.
As one commentator on YouTube suggested, it only takes one company producing solar panels or some other product that depends on silver saying that production has slowed due to their inability to get enough silver. At that point, our only risk is that the government confiscates our silver due to National Security concerns. Hope not.
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