Silver Bottoming Almost Complete / Commodities / Gold and Silver 2018
The current silver bottoming process isvery similar to that of 2001 to 2003. It took a while for silver to establish abase which set up the bull rally in the following years to 2011.
The current bottoming has been longer, butit fits the profile of the early 2000 bottom in many respects. Below, is achart which show the similarity:
I have marked the two patterns (1 to 5) toshow how they are similar. The current bottoming is coming to an end, and now abreakout of the top line of the triangle will confirm the validity of thecomparison.
There also other fundamental similaritiescompared to the same period. The behaviour of the US Dollar index is animportant one of them. Below is a comparison of silver and the US Dollar indexchart:
See how the bottoms and tops of therespective 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 betweenthe 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 lastattempts to go higher, before we will see a major decline. When that declinestarts (which is likely to be soon), the silver price will take off a big way.
For more on this and this kind of fractalanalysis, 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. You can alsosubscribe to this blog (enter email at the top right of this page) to get mylatest free gold and silver updates.
Warm regards,
Hubert
“And it shall come to pass, that whosoevershall call on the name of the Lord shall be saved”
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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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