Silver peaked in 2011 and even though it has rallied this year, it remains 50% below its peak of 5-years ago.
What would it take to erase more of the 50% decline? How about a breakout at (1)! Below is an updated chart on Silver over the past 18-years.
CLICK ON CHART TO ENLARGE
The rally in Silver so far this year, has it facing what could be its most important price point, in the past 5-years.
Silver futures are facing a key inflection point/breakout test at (1) above. Silver still remains in a downtrend (lower high and lower lows).
If Silver can breakout at (1), it could become attractive to a number of people and buyers could step forward.
The Power of the Pattern humbly feels, that if Silver can breakout, it has the potential to be Hi Yo Silver time!
Full Disclosure- Premium and Metals members are long Silver with a tight stop.
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