Cpappa27
Well-Known Member
Just doing some more charting and thought Id do one on Silver. Silver has been in this multi decade cup and handle. The breakout is going to epic if it plays out. These cup and handle patterns are probably the most reliable with a 95% chance the breakout happens and a 5% chance it fails and drops. This chart below, each candle is a 4 month time frame. The supertrend on the 4 month flipped green around the end of 2020 with that spike. Historically the super trend flip resulted in a massive parabolic rally. The cup and handle measured move of the cup would shoot silver to $600.
This move could play out over the course of many years but it is my opinion that this move in silver will be very fast, like 1 to 5 years. I believe that the USA will enter hyperinflation, so bad that when it does hit you'll want to spend your paycheck as soon as you get it because in one more week it could devalue another 20%.
This is on a shorter timeframe. As you can see Silver on a 2 day timeframe has hit the bottom of the rising channel. A move to $30 in October is very possible and in my opinion likely. If however Silver breaks below $22 and closes 3 or 4 consecutive days below the channel then a correction down to $18 is possible, which would still be in the parameters of the cup and handle, so that correction wouldn't invalidate the cup and handle. This is not likely unless the FED keeps raising rates and breaks the market and the DXY (Dollar Index) rises. This is not financial advice this is just my opinion.
This move could play out over the course of many years but it is my opinion that this move in silver will be very fast, like 1 to 5 years. I believe that the USA will enter hyperinflation, so bad that when it does hit you'll want to spend your paycheck as soon as you get it because in one more week it could devalue another 20%.
This is on a shorter timeframe. As you can see Silver on a 2 day timeframe has hit the bottom of the rising channel. A move to $30 in October is very possible and in my opinion likely. If however Silver breaks below $22 and closes 3 or 4 consecutive days below the channel then a correction down to $18 is possible, which would still be in the parameters of the cup and handle, so that correction wouldn't invalidate the cup and handle. This is not likely unless the FED keeps raising rates and breaks the market and the DXY (Dollar Index) rises. This is not financial advice this is just my opinion.
