Almost a month ago I shared the chart below, which reflected that Silver gained almost 50% in two weeks back in 1979-1980, after a key breakout.

In that post I mentioned that an upside breakout could push Silver much high in short order, similiar to the action of 1980, taking it back to the $50 level.  (see post here)  The gains of the last month haven’t been as dramatic as 1980, yet Silver is up over 25% in 29 days!


Below is long-term update on Silver, dating back to the 1970’s…


The 61% Fib level was important for Silver, causing a sideways action, before a breakout. The gains in Silver have been impressive and continue to reflect relative strength over gold.  As I have shared in numerous posts, I have nothing against Gold, its just the “Power of the Pattern” was suggesting the better play was in Silver.

I have expressed in prior posts that Silver could test the highs at $50 and so far the price action is moving towards that test!  Should it reach $50, the price action at that level will become the key to actions investors should take, which can not be determined at this moment in time!


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