An arc like silver price trajectory for the future
Silver took 9 years to retrace from $49 to $11 and change in March 2020. We've seen a meteoric rise since to $23 in four months. The last time silver took off like that was the first half of 2016 rising from $13 to $21. But that was just the B wave of a long 9 year ABC correction from the great gains of the 2000's from $4 to $49. A long C wave of almost 4 years followed that big rise. Most are excited about silver again, but when you consider the long 31 years it took silver to go from $50 in 1980 to $3 and change at the bottom in 1993 and the slow move up to $49 again in 2011, you realize silver takes a long time to move due to manipulative forces at work in the derivatives market.
I believe a 5 wave impulse move from $11 to $23 has either finished or is near finishing. Silver could go a few dollars more up especially if gold (the prime mover of all precious metals) breaks its $1921 2011 high soon and surpasses $2000. What I think is more likely is a cooling off for a few months/years for both gold and silver. An ABC correction of this impulse move could take a couple of years and fall back down below $20. Then another 5 wave impulse move is likely which could also take a few years. Wave 3 of the next impulse move could take silver back up to near $50 again. There could then be another mini-cup retrace after that and then wave 5 could be a complete explosion over $50. How high up is anyone's guess. But the Fed and central banks across the world continue to print fiat out of thin air to cover excessive spending, thus driving down the value of all fiat currencies.
What's the hedge long term against this excessive money printing? Why silver and gold of course plus Bitcoin and other cryptocurrencies IMO.
I believe a 5 wave impulse move from $11 to $23 has either finished or is near finishing. Silver could go a few dollars more up especially if gold (the prime mover of all precious metals) breaks its $1921 2011 high soon and surpasses $2000. What I think is more likely is a cooling off for a few months/years for both gold and silver. An ABC correction of this impulse move could take a couple of years and fall back down below $20. Then another 5 wave impulse move is likely which could also take a few years. Wave 3 of the next impulse move could take silver back up to near $50 again. There could then be another mini-cup retrace after that and then wave 5 could be a complete explosion over $50. How high up is anyone's guess. But the Fed and central banks across the world continue to print fiat out of thin air to cover excessive spending, thus driving down the value of all fiat currencies.
What's the hedge long term against this excessive money printing? Why silver and gold of course plus Bitcoin and other cryptocurrencies IMO.
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