Three months ago, we released extremely bullish articles on silver miners. Last week, we got a triple bullish signal from the market. Are you paying attention? Probably not, this insanely bullish signal went unnoticed. Not for us, though, we are paying attention since many months. The ultimate buy signal is here, it will be confirmed in the next 2 to 3 weeks. Our bullish Silver Price Forecast 2023 and Junior Silver Miners Forecast 2023 are being confirmed at a time when hardly anyone is paying attention.
Beautiful, absolutely beautiful it is when the investor community is not paying attention. It allows for smart investors to position themselves in a very relaxed way.
As a refresher, a few quotes from recent articles.
What may seems as ‘boring’ period on this SILJ chart is in reality a ‘base building process’. The longer the base, within a range defined by solid support, the more powerful the foundation for the subsequent trend. As said, Silver Miners Flirting With Secular Support, Tremendous Upside Potential In 2023 which has not changed so far, on the contrary. We expect the trend in junior silver miners to be higher, the current base building process is required to gather sufficient energy to clear the green falling trendline and also 12 points.
So, no matter how we are looking at the silver mining space, we see (a) decision time is here (b) the start of a new uptrend is likely already in the making.
The long term channel got tested in Sept/Oct and junior silver miners convincingly confirmed channel support. Moreover, a long term rounded pattern was confirmed on Sept 19th, 2022. Double confirmation that long term dynamics are in place.
Below is the up to date chart, it has a triple bullish signal:
- It touched support of the long term channel two weeks ago. Last week, we got a rejection candle (a larger green candle, right at support, larger than the previous red candle).
- It happened exactly at support of the long term rounded bullish pattern.
- In the meantime, the candlestick pattern is becoming a W pattern, right at support.
Wildly bullish long term.
We believe this is an epic opportunity to start building up positions in top silver miners. As per our timing analysis, investors should start seeing buy signals in the next 2 to 3 weeks in broad markets, those signals also apply to silver miners.