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Silver, Gold and the Commodities Index (below) have struggled to move higher since they peaked back in 2011. Could Silver be about to end its 7-year bear market? Are commodities about to enter into a long-term upward cycle?
The chart above looks at Silver over the past 40-years. It is possible that it is forming a bullish multi-decade “Cup & Handle” pattern.
Silver currently remains inside of a 7-year falling channel, which could be the handle of the long-term bullish pattern. If Silver would breakout at (1), it would send a bullish price message and should attract buyers. The top of the handle pattern comes into play as resistance right now so this is a very important test for Silver! Big test friends to see if its “Hi-Yo Silver” time!
Are commodities in general about to blast off higher? Below looks at the TR commodity index over the past 40-years-
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The TR Commodities index above seems to be influenced by a 16-year cycle. As the cycle could ready to start another upward trend, the index finds itself testing the top of a 7-year falling channel, similar to Silver. If the index would breakout above resistance at (1), it would send a bullish price message to this hard-hit sector, which should attract buyers.
The two charts shared today highlight that Silver and the Commodities index are both up against the top of 7-year falling channel resistance at the same time. If they would both breakout at the same time, it would send bullish price messages that have been missing for years.
I am of the opinion that “Multi-Decade Opportunities” are in play in Bonds/Yields, Stocks, and Commodities (Gold, Silver, Copper & Miners). Due to these important opportunities, we produced a FREE webinar this week and offered $45,000 of bonus research to new members.
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