2022-03-17

Hi Yo Silver, Away!

I view silver and gold in concert. I do believe the metals are attractive here, but there is an absolutely ugly monthly candle forming on gold, similar to the one forming in oil. With crude, I believe the top is in.
Silver has a similar monthly candle forming:
However:
Last month I posted The Low is In: Silver Joins Gold in a Breakout and I haven't changed my view. This looks like a healthy consolidation within the basing pattern. That silver is stronger is bullish. The target for gold from this 2-year base is $2500. The massive 11-year base, yet to be broken, points to $3000+ gold with a stretch target of $5000.

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