Silver appears to be very close to an even bigger move higher…that will likely take prices to all-time highs.
Below, is a long-term Silver chart:
Note that price has broken abovNote in the chart above that price:
- has broken above the the 50-month moving average, and consolidated above the line…
- As long as prices stay above that 50-month moving average, the bull is very much alive, and this could still be so for a very long time to come.
- It will be nothing special for it to reach a minimum target well above $100.
- Furthermore, there is a type of cup-and-handle pattern which has a log target that suggests prices could possibly hit $700. Even hitting this seemingly high level, would be nothing out of the ordinary given the type of setup, when compared to how bull markets commonly unfold.
The big question, however, is how fast can it reach that target?
Nevertheless, those who now take the enormous stock market profits by selling out, and buying silver, will be the big winners, especially if they can ride it up close to the target of the cup-and-handle pattern.