• 11 hours Silver Steadies Following Wild Week In Precious Metals Markets
  • 1 day $5 Million Gold Toilet Vanishes
  • 1 day Gold On The Rise After Fed Rate Cut
  • 1 day Oil Trader Loses $320 Million On Derivative Bets
  • 2 days S&P 500 Officially In An Earnings Recession
  • 2 days Miners Are Weathering The Trade War Storm
  • 2 days UK Credit Card Interest Rates Are Skyrocketing
  • 3 days From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 3 days Are Smart TVs Spying On Us?
  • 3 days Is Fossil Fuel Divestment A Waste Of Time?
  • 4 days A Russian Billionaire’s Space Quest To Save Humanity
  • 4 days Markets Take Breather As Consolidation Continues
  • 4 days Economic Woes Weigh On Copper Prices
  • 4 days World's Largest IPO At Risk Following Drone Strikes
  • 5 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 5 days What’s Behind The Silver Sell-Off?
  • 5 days The Retail Apocalypse Is Accelerating
  • 5 days The Top Tech Stocks Of The Year
  • 6 days America’s Workforce Elderly Workforce To Double By 2028
  • 6 days Toyota Tests Solar-Powered Prius
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Joseph Russo

Joseph Russo

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating…

Contact Author

  1. Home
  2. Markets
  3. Other

SILVER: 5 Price Targets and Only 1 to the Upside

Still mired within a multi-year bear market quandary of nefarious financial rigging via the futures markets, it's difficult to know just when Silver will touch down at a final bottom.

BIT-GOLD gold standard reinstated
Larger Image

Although we cannot know when this bottom will occur, we can gauge at what technical price level such a bottom might rest. The current print low is $14.10, and indeed - this price point may be the actual bottom we are looking for. If $14.10 fails to hold however, we submit 4 additional downside price targets to consider.

I'll begin with the lone upside price target, which is for one, contingent upon the March 15.27 low holding, and two, a resumption of trade and closes above the falling green trendline. The lone upside price target if these contingencies are met is a silver price of $19.07 per ounce.

I'll close this brief with the four downside price targets beginning with the nearest. All four downside price targets are contingent upon the 18.50 level holding as a pivot high. The nearest target rests at 14.27 followed by 13.30, 13.00, and finally $12.00 per ounce. The $13.00 price target will remain in place, and is contingent upon the 25.12 level holding its August 2013 pivot high.

Should any of the contingency pivots be violated, then technically, their respective price targets should be abandoned.

Trade Better / Invest Smarter

 


The Chart Cast Pilotand Elliott Wave Technology's Guardian Revere Long-Term Trend Monitorare the proud sponsors of this communication.

 

Back to homepage

Leave a comment

Leave a comment