SILVER – The Next 17 Trading Days
Including today, Tuesday Sept. 9, there are 17 trading days until and including Wed. Oct. 1st. While somewhat arbitrary in nature, that window covers a very important interval for Silver and it’s likely price moves. As we are deep into the process of working through the significant “congestion zone” that I have described and discussed in previous posts, between $39-$44. These next 17 trading sessions are likely to be made up of three distinct acts. (almost like a play) Act 1- Reaching The Top of The Congestion Zone – This should occur this week. Act 2 – Pullback Into The Zone – Setting the stage for the Breakout towards the $48-$50 ATH zone. That should commence sometime next week, possibly with the expected 50 basis point cut by the FED as a catalyst. Act 3 – Will encompass a quick, sharp selloff from that $48-$50 area, likely touching briefly the top of the congestion zone at $44-$45. From that move down will be followed by the final scene, that will bring down the curtain to a standing ovation of thunderous proportions, as the price breaches through $50 and follows through sharply higher, never again to return to the netherworld of below $50.
Why I STRONGLY believe one can be confident in buying physical silver at this time. Even though we appear to be stuck in the middle of the “congestion zone” between $39-$44, the GSR at 89 is screaming that silver is a buy and should be breaking towards the $43-$44 upper level of the zone this week.
CM, ,let me start out by saying “Lord hear our prayer”. I am agreeing with you and I believe that this is Fred Sanford’s “the big one”.
Let’s hope Elizabeth is listening.LOL