Our Silver Forecast 2022 is out (also our gold forecast), and the key take-away is that we expect silver to move to 34.70 USD with a stretched price prediction of 40.70 USD. As a pre-requisite we need the ongoing reversal to (a) hold (b) become clean. So far, it looks like silver is on track to meet those ‘requirements’.
Silver is entering its next 3 month cycle.
Our premium members as well as loyal readers know that we include timeline analysis in our methodology. Cycle analysis is an integral part of our methodologies, and it very often comes with very accurate timing predictions.
It is clear that silver needs at least one, if not several more, 3 month cycles before it can become really bullish.
We keep on saying that silver has the longest and strongest chart reversal in history of markets.
That’s the really long term view.
What about the medium term view?
For now, silver is respecting its September lows. It needs a softer USD + a break up of the rising red trendline which is shown on below daily silver price chart.
Truth to be told, as a chart setup we absolutely love silver. Silver is in a great spot for really long term portfolio positions (either in SLV or a select few silver miners). Short to medium term it is probably just a little too early but we can see a short to medium term opportunity coming really soon.
IF 22.0-22.5 in silver holds it will be an extremely powerful reversal once it breaks out. The chart is starting to become smoother, less wicks, smaller candles, etc. Tension is making place for ‘control’.
In our Trade Alerts service we track silver very closely, and will initiate an SLV position as soon as there is a short term buy signal. Moreover, and more importantly, we are eagerly waiting for the big breakout in silver which will bring mega returns (worth waiting for it) in an SLV trade. We also closely track silver miners in our Momentum Investing portfolio for medium term oriented positions (from time to time long term positions).
