Weekly chart of the World Silver Index going back to mid 2002.
Major upper and lower trend lines have been drawn with the parabolic peaks shown with the month and year. David Morgan has mentioned that the short and mid term price can be 'manipulated', but not the long term trend.
You can see the overbought peaks and the oversold areas/periods. Each time the price has come back to trade between the upwards major trend lines. If the current rally brings the price to the midpoint between the upper and lower lines, it should be around the $42-$45 area.
Weekly Stochastics K and D lines are heading back towards the 80 level and based on past history, it has a little more to run before a pullback.
There was a triple bottom at the $26 area which may be the last time it dips that far going forward.
Silver is still a great value as Gold has breached it's 1980 price of ~$850 in 2008 and is currently trading around the $1750 area. Silver is still UNDER the 1980 price of ~$50 and is trading around $34.27.
Major upper and lower trend lines have been drawn with the parabolic peaks shown with the month and year. David Morgan has mentioned that the short and mid term price can be 'manipulated', but not the long term trend.
You can see the overbought peaks and the oversold areas/periods. Each time the price has come back to trade between the upwards major trend lines. If the current rally brings the price to the midpoint between the upper and lower lines, it should be around the $42-$45 area.
Weekly Stochastics K and D lines are heading back towards the 80 level and based on past history, it has a little more to run before a pullback.
There was a triple bottom at the $26 area which may be the last time it dips that far going forward.
Silver is still a great value as Gold has breached it's 1980 price of ~$850 in 2008 and is currently trading around the $1750 area. Silver is still UNDER the 1980 price of ~$50 and is trading around $34.27.
Silver can be really a good investment just like gold. You can never go wrong with it.
ReplyDeletecash for silver