Join today and have your say! It’s FREE!
We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}

Join today with :

or

By providing my email, I consent to receiving investment related electronic messages from Stockhouse.
Sign in with existing account
Please Try Again
{{ error }}

Sign In With :

or

Password Hint : {{passwordHint}}
Forgot Password?
Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Silver Bottoming Almost Complete

Hubert Moolman
0 Comments|November 1, 2018

The current silver bottoming process is very similar to that of 2001 to 2003. It took a while for silver to establish a base which set up the bull rally in the following years to 2011.
 
The current bottoming has been longer, but it fits the profile of the early 2000 bottom in many respects. Below, is a chart which show the similarity:
 
H1.jpg

I have marked the two patterns (1 to 5) to show how they are similar. The current bottoming is coming to an end, and now a breakout of the top line of the triangle will confirm the validity of the comparison.
 
There also other fundamental similarities compared to the same period. The behaviour of the US Dollar index is an important one of them. Below is a comparison of silver and the US Dollar index chart:
 
h2.jpg

See how the bottoms and tops of the respective charts line up. Last year, when the US Dollar index was in decline (between the two dotted red lines), silver failed to rise.
 
This was also the case in 2002 (see between the two red lines). However, when the US Dollar continued into a deeper fall (after the two red lines), silver eventually started to rise significantly.
 
The Dollar is currently making its last attempts to go higher, before we will see a major decline. When that decline starts (which is likely to be soon), the silver price will take off  a big way.
 
For more on this and this kind of fractal analysis, you are welcome to subscribe to my premium service. I have also recently completed a Silver Fractal Analysis Report as well as a Gold Fractal Analysis Report.
Tags:

Comments

No comments yet. Be first to comment!

Leave a Comment

You must be logged in to access this feature.



×

StockTalk
Get our FREE StockTalk Investor Guides by sector as they are released!

Stay on top of sector specific news, get industry leaders insights and our best content, delivered to your email.

You are already a member! Please enter your password to sign in.