For many of the reasons that I have posted regarding Gold, they apply to Silver.
For those who are unaware, the old saying that Silver "walks up the stairs but takes the elevator down" proves itself again. Silver breakouts are typically delayed compared to Gold and fall more rapidly than Gold. However, I am very bullish on Silver in the long-run as Silver must close the 90:1 gap down to at-least 65-70:1. Therefore at some unknown point as Gold continues to rise, Silver may break-out at any time to over 20.
Silver possibilities:
1) Swing directly to 17 with smaller but no major retracement
2) Down to 15.9 or 16.0 then up to 17
Silver closed at a solid 16.2. If no re-test of 15.9-16.0 on Monday's trading session, then likely a moderate swing to 17.
- zSplit
For those who are unaware, the old saying that Silver "walks up the stairs but takes the elevator down" proves itself again. Silver breakouts are typically delayed compared to Gold and fall more rapidly than Gold. However, I am very bullish on Silver in the long-run as Silver must close the 90:1 gap down to at-least 65-70:1. Therefore at some unknown point as Gold continues to rise, Silver may break-out at any time to over 20.
Silver possibilities:
1) Swing directly to 17 with smaller but no major retracement
2) Down to 15.9 or 16.0 then up to 17
Silver closed at a solid 16.2. If no re-test of 15.9-16.0 on Monday's trading session, then likely a moderate swing to 17.
- zSplit
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