Commodities Analysis and Opinion
Silver Could Skyrocket After 15-Year Pennant Breakout
2023.08.25 03:23
Precious metals have been a bit boring of late due to some sideways trading. But that boredom may come to an abrupt end shortly.
Today’s chart takes a long-term view of , highlighting a huge price pattern along with potential upside targets (if triggered).
As you can see, Silver has formed one of the longest and largest pennant patterns that have been in play for nearly 15 years. If Silver breaks out, look for it to become VERY attractive to investors. This may propel Silver back to retest its all-time highs.
And if Silver takes out $50, much higher Fibonacci extension levels come into play at $79 and $126.
But first, let’s see if Silver can break out of its 15-year pennant. Stay tuned!
