• 53 days Could Crypto Overtake Traditional Investment?
  • 58 days Americans Still Quitting Jobs At Record Pace
  • 60 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 63 days Is The Dollar Too Strong?
  • 63 days Big Tech Disappoints Investors on Earnings Calls
  • 64 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 66 days China Is Quietly Trying To Distance Itself From Russia
  • 66 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 70 days Crypto Investors Won Big In 2021
  • 70 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 71 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 73 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 74 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 77 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 78 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 78 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 80 days Are NFTs About To Take Over Gaming?
  • 81 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 84 days What’s Causing Inflation In The United States?
  • 85 days Intel Joins Russian Exodus as Chip Shortage Digs In
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Silver Is Looking Really Bullish In Dollars, Euros and Rands

Silver in South African Rand

The South African rand is often a leading indicator for where silver (in dollars) is going, as previously explained. Furthermore, the chart of the silver price in rands can often provide very clear signals or patterns of what might happen to price.

Currently, the silver price in rands provides the clearest signal (in my opinion) that silver is going to go very high in price. Below is a silver chart in South African rands:

Silver in South African Rand
Larger Image

The clear signal comes in the form of a flag-type formation. The price has already broken out of the line at the top of the flag, and is currently busy with a retest of the breakout area. When the retest is successfully completed (which might be soon), then price will spike higher in a very aggressive manner.

The correction since 2011 is similar to the one since 2008, except that the formation is a flag-type one instead of a triangle-type one since 2008.


Silver in Euros

The euro silver chart also has a flag-type pattern, however it is not as clear as the one on the rand silver chart. Furthermore, the comparison of the post 2011 and post 2008 consolidation is also not so apparent.

However, if we apply some fractal analysis techniques, then the picture becomes clearer. Below, is a silver chart in Euros:

Silver in Euros
Larger Image

On the chart, I have marked the two consolidations (1 to 7) to show how they might be similar. Based, on the comparison, we are now at a point similar to August 2010. Once point 7 is confirmed, then the silver price could move very quickly to the high at point 1.

Due to the position of the current point 7, within the larger pattern (cup-and-handle pattern); I do not expect the move to the high at point one to take as long as the move in 2010/2011 took – it will be much quicker.


Silver in US Dollars

Currently, Silver in US dollars is probably more bullish than in any other major currency. Below, I have also applied some fractal analysis techniques on the US dollar silver chart:

Silver in US Dollars
Larger Image

On the silver chart, I have highlighted two patterns that appear similar. I have marked them 1 to 6 to show how they might compare. Both patterns start from a significant silver top. Both patterns represent the end part or handle of a cup and handle-type pattern. If the comparison is justified, then we are currently just after point 6, the point where a major breakout occurred.

We have now retested point 6, and could see a swift move to the all-time high over the coming months. The move might be extremely fast, for the same reasons given above (see Euro Silver Price).

Warm regards,

 


For more of this kind of fractal analysis, you are welcome to subscribe to my premium service. I have also recently completed a Silver Fractal Analysis Report as well as a Gold Mining Fractal Analysis Report.

 

Back to homepage

Leave a comment

Leave a comment