“As the saying goes, a picture tells a thousand words. I have taken a monthly line chart on silver going back to 1970. The 1970’s bull market from a technical perspective is picture perfect. There are a clear 5 waves up (as seen on the chart below), with the largest being the 5th wave which represented a staggering 808% gain for silver.
This is the norm for commodities as wave 5 is driven by fear and scarcity. The 70’s corrective waves of 2 and 4 have alternation, where 2 is fast and steep, and 4 is slow, drawn-out and volatile. The subsequent 20 year bear market made obvious key levels of support and resistance as noted by the yellow circles and horizontal red lines that I have extended into today’s time frame.... ‘The larger the base, the higher the move into space.’ The minimum topside target for silver is around $200 which is the top of the major price channel.” - "Exit From Massive Silver Base Projects Staggering 1,020% Move"
Even for the colorblind, hard to miss the $1,020% move in silver. Folks are hearkening back to a time they cherish.
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑
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