Back in August, I shared that a rather large “ascending triangle” had formed in Silver and that 65% of the time, this pattern suggested much higher prices were in store. See chart below per the pattern (see 8/18 post here)   Silver was trading at $18.40 per ounce at the time of the post.

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Below is a current snap shot of Silver.

 

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Silver is fast approaching a percentage gain that saw prior rallies run out of steam and is near a key fibonacci 30-year retracement level.  For those long, I would not sell right now, yet sure would take measures to protect gains.

 

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