Will this week set the stage for the three step breakout I have been describing in a number of posts? I would like to see a near $1 gain to at least the $23.60 area putting it above the 200 day mvg avg.

An upward bias for the week culminating in a strong Friday will be necessary.

Up until now, the three stages have never gotten to the second stage, which would be a strong Friday close with a sizeable weekly gain.

We would want to see a Friday close around $26-$26.50 That’s a big ask, but something like that would be necessary to set the stage for the third phase of the breakout scenario, a move first to, and within a few days through, the $26.50 price cap zone.

That would create the weekend set-up for silver (preferably a 3 day Holiday weekend, which this one will be.) . The third and final stage would be a big gap and run on the day after the holiday, taking silver to at least $30, by the end of next week.

Once that first breakout occurs, it sets the stage for a longer run to the $48-$50 area of the ATH’s. Volatility along the way from $30 to $50 should be expected.

I believe, my long held view that the breakout and follow thru would occur, on the Friday – Tuesday surrounding a three day Holiday weekend, will finally prove correct. A few false starts, but if the desired outcome becomes reality this weekend, well worth the wait!