Silver lags for now, wait for it…


Silver lags for now, wait for it…

dg78 asked me about Silver … so a quick look here.

The Silver Weekly chart is lagging Gold , but does appear to consolidating since mid 2021. Trendlines are tilting downwards as price appear to be testing harder each time. Last week closed above the 55EMA on a nice looking bullish candle that gapped up and pushed to close above the 55EMA. MACD in this instance is also about to cross into the bullish zone.
Lagging Gold , but can turn up fast, like previously.

The Monthly chart shows a pennent/ flag pattern with the long term target of about 41.20 in mid-2023. Noted that the retracement since the Aug 2020 top did not reach the 55EMA as a support, which can be viewed as a bullish bias indication.

Not yet ripe, but when it runs, it should run fast with much potential, IMHO…