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Proof that Silver is entering a long term bull market. A thread...
#silver #preciousmetals
#silverminers
1)Silver has majorly broken above major long term resistance of $21.17/oz.
#silver #preciousmetals
#silverminers
1)Silver has majorly broken above major long term resistance of $21.17/oz.
2) The gold silver ratio has broken major long term support, which indicates Silver is rising faster relative to Gold.
3) The Dow/Silver ratio has topped and has broken long term support.
4) One of the worlds largest Silver miners Fresnillo has broken out of a bullish downward wedge.
5) Gold has reached and exceded 2011 highs. Silver should follow suit shortly.
6) The world Silver price measured in SDR's is confirming the breakout, meaning Silver is rising in most major currencies.
7) M2 money stock has exploded due to the Coronavirus pandemic reaction. Money is being printed so much it is being made worth less. Silver rises in price as a result.
8) Real Treasury rates are ALL negative. In this environment precious metals do very well.
These are the major points which I feel are worth noting, as its easy to forget the main reasons we're invested in the previous metals and silver space when looking at the price daily. If you have any comments or queries on the above please ask away.
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