Are Breakouts important?  You bet!!! 

On 8/18¬†¬†I highlighted the fact that an ascending triangle was forming in Silver and 65% of the time this leads to higher prices¬† (see post here) . The play was to follow the breakout of this pattern, in the “Hi Yo Silver and Away we go” post.¬† Gold is doing great, yet look what happens when a breakout¬†takes place¬†in an asset class that is performing well!

Silver is facing 30-year Fibonacci resistance in the chart below…

Silver has rewarded¬†investors with a 14%+ gain in the past 30 days!!!¬†¬† If you think that is sweet, you haven’t seen anything yet, compared to what could happen¬†on a “BREAKOUT” of this pattern!¬†

If you don’t own Silver already…climb in the saddle on an upside “breakout!”¬† For those with some nice pocket change already…keep a 5% stop on SLV.

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