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Big Breakout Ahead For Silver

16-8-2024 < SGT Report 23 211 words
 

by Dave Kranzler, Investment Research Dynamics:


Gold recently broke out of 12-year cup/handle technical formation. The price objective from this breakout is at least $3,500. I was looking at a long-term chart of silver. I did not realize it looked like this:


For a refresher, here’s the gold breakout:


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For a refresher, here’s the gold breakout:



The silver cup/handle has lasted for 13 years. The duration of the cup/handle will generate a longer duration, bigger move higher than many believe is possible. Of course, that skepticism preceded the move from $7 to $49 between late 2008 and March 2011. A 7x move when the silver cup/handle breaks out would take silver close to $200…


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