Intermediate goal setting on Silver
I think silver is going higher, and a lot higher. I encourage everyone to do some reading on how Basel III has affected the behavior of gold investors and savers, especially institutions like Central Banks, and how that is going to affect the price of silver.
Our chart has over 20 years of history of silver action and we have some very impressive moves defined by fib extensions. I am drawing my extensions from low to high, back down to the low so these fib extensions overlap a bit. I have had some sucess charting low(a) to high(a) to low(b) to get my fib extensions and for silver that puts my target much higher, and that is how I am getting my final targets but this is charting out my intermediate targets.
The black fib extension shows we went from a low of $4.05 and swung up to $8.445 and in the next 4 years set a new high at the 4 fib ratio of $21.6. If you bought silver as a true believer and held past the drop that occurred immediately after you still made a fortune over the next couple of years.
Our blue fib extension shows we went from the swing low of $5.45 to $21.31 and that predicted our new high at the 2.618 fib level of $46.71, which is within 2.something of our high of $49.831. Pretty accurate.
This now sets up our current and purple fib extension from a low of $8.453 to the high of $49.831. Given this move was preceded by a long consolidation much like the black fib extension I expect our first stop and consolidation will be somewhat above $50 and I hope to accumulate through the dip and potential multi year long consolidation.
My personal Battle Plan (and disclaimer)
I am not really looking to take profits after we surpass the 2.618 fib extension. The 4.764 level puts the price just past the big round of 200, and so that will be where I will be looking to take most of my profit and then look to pivot into something undervalued or buy a retrace. This is a 5-10 year move and I know myself, I could overtrade this like a moron. And the disclaimer: I am not a financial planner and I am not your financial planner. BUT there are a lot of dudes that are that say 10% of your portfolio should be in precious metals and there are a few that put the range higher to 25-30% precious metals. I am turning into one of those individuals. I am going to be looking at silver/bitcoin or gold/bitcion to see when it looks advantages to rebalance. Please see the my linked Gold and Silver post for my target setting on bitcoin
Conclusion
This is a lot to forecast. But there is enough happening fundamentally in the world to behoove a move to precious metals, with gold being a save haven for both emerging economies and central banks no matter how the trade wars and the dollar develop and how that will spill over to silver, which is underpriced compared to its history against gold.
Our chart has over 20 years of history of silver action and we have some very impressive moves defined by fib extensions. I am drawing my extensions from low to high, back down to the low so these fib extensions overlap a bit. I have had some sucess charting low(a) to high(a) to low(b) to get my fib extensions and for silver that puts my target much higher, and that is how I am getting my final targets but this is charting out my intermediate targets.
The black fib extension shows we went from a low of $4.05 and swung up to $8.445 and in the next 4 years set a new high at the 4 fib ratio of $21.6. If you bought silver as a true believer and held past the drop that occurred immediately after you still made a fortune over the next couple of years.
Our blue fib extension shows we went from the swing low of $5.45 to $21.31 and that predicted our new high at the 2.618 fib level of $46.71, which is within 2.something of our high of $49.831. Pretty accurate.
This now sets up our current and purple fib extension from a low of $8.453 to the high of $49.831. Given this move was preceded by a long consolidation much like the black fib extension I expect our first stop and consolidation will be somewhat above $50 and I hope to accumulate through the dip and potential multi year long consolidation.
My personal Battle Plan (and disclaimer)
I am not really looking to take profits after we surpass the 2.618 fib extension. The 4.764 level puts the price just past the big round of 200, and so that will be where I will be looking to take most of my profit and then look to pivot into something undervalued or buy a retrace. This is a 5-10 year move and I know myself, I could overtrade this like a moron. And the disclaimer: I am not a financial planner and I am not your financial planner. BUT there are a lot of dudes that are that say 10% of your portfolio should be in precious metals and there are a few that put the range higher to 25-30% precious metals. I am turning into one of those individuals. I am going to be looking at silver/bitcoin or gold/bitcion to see when it looks advantages to rebalance. Please see the my linked Gold and Silver post for my target setting on bitcoin
Conclusion
This is a lot to forecast. But there is enough happening fundamentally in the world to behoove a move to precious metals, with gold being a save haven for both emerging economies and central banks no matter how the trade wars and the dollar develop and how that will spill over to silver, which is underpriced compared to its history against gold.
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