Silver is finally waking up from a long bear market and multi-year slumber.
Gold kick-started the precious metals rally and finally Silver is following suit… and perhaps even leading.
In today’s chart, we can see that the price of Silver is breaking above a 6-year range at (2). See the shaded area defined by (1).
This range has been defined by Fibonacci price levels (23.6 to 38.2).
So it seems well within the realm of reason that Silver may be targeting its next Fibonacci price level…
If this is the case, then the next upside price target is the 50% Fib level at $27. Stay tuned!