Are Silver Prices About to Skyrocket?

uk.investing.com/analysis/are-silver-prices-about-to-skyrocket-200554894

By Chris Kimble | Jan 12, 2023 07:20

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XAG/USD

-0.21%

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Silver

-0.16%

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Silver prices have been moving higher for several months now and appear poised to test major breakout resistance.

Could the reward for silver bulls be a massive breakout higher?

This is possible when considering the mother of all bull flag patterns formed over the past 11 years. See the monthly chart below.

Silver Monthly Chart

As you can see, silver remains inside of its 11-year falling channel and is eyeing overhead resistance at (1).

Should a breakout occur at (1), it would increase the odds that it is Hi Yo Silver time for bulls.

Possibly, this is the largest bull flag pattern in the history of silver.

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Comments (2)

Jason Rich Jan 12, 2023 17:46

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And yet it fauled to break the line on four previous occasions so odds are it will decline when it hits the line rather than breakout …

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Jason Rich Jan 12, 2023 17:46

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Alun Benjamin Jan 12, 2023 15:21

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Not a chance of a sustained rise above $30. The bullion banks will squash any bull run with high frequency short trading among themselves, just as they did when Wall Street Bets tried to corner the market in 2021. They emptied the US of retail bullion and coins and ran the price up to $29-odd but the order went out to crush the mob and that's what happened. A lot of people got burned and its too fresh in the memory to forget.

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Are Silver Prices About to Skyrocket?

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