There are a lot of $Silver charts out there, but have you seen this? The depth of the cup is equal to the vertical height of the 30-year ascending channel. Elegant TA would give us a measured move hit right at the top rail around $666 in April, 2029.
My Elliott Wave count of gold futures (GC).
If you retweet, I'll DM you a 9-month cycle outlook for gold/GC (must follow).
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#Silver is in high demand for electronics, solar panels, and electric vehicles due to its excellent conductivity.
The chart shows broader positive price action, and a break above $50 would mark just the beginning of this move.
These rare, majestic broadening patterns are appearing across the board.
The fifth reference point is in play for some, meaning bulls have a little time left before heading to the slaughterhouse.
Hope this helps.
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Gold is now so far stretched above its 3-year moving average that we can fall around $1000 in a 2008-style drop, and still be in a long-term bull market. Great to have that cushion as we approach a time of reckoning.
Gold is now so far stretched above its 3-year moving average that we can fall around $1000 in a 2008-style drop, and still be in a long-term bull market. Great to have that cushion as we approach a time of reckoning. https://t.co/bsTLp6Cqod
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