Jordan Roy-Byrne: Silver Price Outlook & Analysis
The Daily Gold, Released on 8/22/22
In this video we analyze the long-term technicals of Silver. At present, Silver is clinging to important support in the $18s. The path of least resistance remains lower and we think Silver has downside risk to $14-$15, which is the next area of support. That level is major support, dating back many years. Silver has already broken down relative to the S&P 500. Should Silver put in a major low at $14-$15 then it would show a significant, historic bottom on the Silver vs. S&P 500 chart. Finally, we note there could be some similarities to the late 1960s. Inflation surged higher in the mid to late 1960s yet Silver peaked before the peak in inflation. It declined 50% before it began, what was a major move in the early 1970s.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne: Silver Price Outlook & Analysis added by Herman James on 08/22/2022View all posts by Herman James ?+'