As far as silver is concerned, we would like to mention two important arguments. Firstly, when silver reached its all-time high in April, 2011, it merely reached the level of 1980 high (only in nominal terms, as in real terms this high was much, much lower) whereas gold’s all-time high from 2011 was more than double the one form 1980 (again, in nominal terms) – this itself shows a great potential relative to gold. The second argument is more technical in nature, but very much in tune with the above one and consists of various price projections for the white metalthat we featured two weeks ago.
Today we begin with the long-term chart in order to emphasize the importance of looking at the big picture which should always take precedence over short-term charts. In silver’s long-term chart, we see that prices tried to break down below the long-term support line but failed. They are now back above this line, and, after rallying, touched the resistance-support line once again. We clearly have a bullish situation with bullish implications for the long term.
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Silver Charts Signify Long-Term Bullish Implications
Published 02/05/2013, 05:40 AM
Updated 05/14/2017, 06:45 AM
Silver Charts Signify Long-Term Bullish Implications
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