Why I Think Silver Price Will Move Up Soon

Silver price has been bearish (dropping) for more than 2 months since late February 2012. I have posted several post before this that suggest silver price might move up before this such as:

  1. Flag Pattern
  2. Head and Shoulders
  3. Silver Price 1970

and few others…

The fact is I didn’t know for sure. If last Friday, silver price has fallen $26 support, very bad thing could happen to silver price as it could drop to support as low as $17 or $18 to find the next strong support. Some investors wish for it to drop to that low so that they can buy more. For short term, it’s true that the investors might be able to buy cheaper; but as for long term view, it is not a good sign as it could take a very very long time before price climb back to $30 level. If price has dropped below $26 last Friday, anyone who went in market in the last 2 years would get burned – the only variation is, how severe.

Since price has re-bounced to $28, that would make all my previous forecast seems correct again. Today, I’m making another forecast as I spotted another similar pattern in 2007. As you can there are Point A to Point F, right after Point F, silver price shot up high

A similar pattern is detected in silver price now…

The similar Point A to Point F can be found in today silver price, if we are already in Point F (this is very likely because we survived support at $26), very soon silver price will re-bounce and rise drastically.

I’m in the process of writing my new eBook, the last version of the eBook was released in February and I only opened to limited amount of download (100 copies). Due to popular demand, I am planning to work on the 2nd Edition of the eBook. I’m updating the information and added a lot more good stuff into it. Stay tuned in my blog and you will see the update soon. Alternatively if you do not want to miss anything, please subscribe here so that I can update you from time to time about my progress.

Have a nice week ahead!

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>