It’s quite possible we have topped out in silver.\u00a0 I was expecting $34 to $36 on this run, and we split the difference and hit $35.<\/p>\n
On the daily chart (not shown), I would expect the 50 day MA (currently at around $31 and rising) to provide initial support and should continue to do so for months.<\/p>\n
Bottom line though is, it could be 5-6 months before last week’s high is taken out.\u00a0 I am not expecting a crash but more of a sideways grind with at least one false start to be likely in which the recent highs are approached but not exceeded.\u00a0 Ultimately, I expect the 200 DMA to be tested (hopefully 4-5 months from now), which should correspond to a test of the 50 week EMA.\u00a0 The 200 day Bollinger bands will finally tighten up over this time.<\/p>\n
We will need patience now, and under no circumstance will I personally be adding to my position until we get that test of the 200 dma (again, most likely 4-5 months from today, which will give it time to rise substantially).\u00a0 Hang in there.\u00a0 I believe once this period is over, we will see $50+.\u00a0 I will likely sell some stock at that point (anywhere from 25-50% of my position) with the hope of buying back some of those shares substantially lower.\u00a0 After that peak at $50+, I think we will likely have to wait around 24 months before that $50+ peak is taken out, on our way to $150+ in the final 12 months of this bull.<\/p>\n
TLDR: buy every test of the 200 dma and\/or 50 week EMA over the next 3 years.\u00a0 And please hold your nerve.\u00a0 This was never going to be easy.<\/p>\n
THIS IS NOT INVESTMENT ADVICE.\u00a0 I COULD BE DEAD WRONG. REMEMBER IN A TRUE BULL, SURPRISES COME TO THE UPSIDE!\u00a0 (LOOK WHAT NVDA DID THE WEEK OF MAY 26, 2020–OFF THAT LOW IT MORE THAN DOUBLED IN 3 MONTHS BEFORE RESTING.\u00a0 I CAN’T COMPLETELY RULE THAT OUT.\u00a0 WE WILL KNOW VERY SOON WITH SILVER!\u00a0 MAYBE AS SOON AS TOMORROW.\u00a0 I WOULD NOT WANT TO SEE TODAY’S LOW TAKEN OUT FOR THIS UPSIDE SCENARIO.)<\/p>\n
It’s quite possible we have topped out in silver.\u00a0 I was expecting $34 to $36 on this run, and we split the difference and hit $35. On the daily chart (not shown), I would expect the 50 day MA (currently … Continue reading ![\"\"](\"https:\/\/goldtadise.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-31-at-11-30-06-SILVER-SharpCharts-StockCharts.com_.png\")
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