01-27-2022, 12:25 AM
Silver appears to be on the cusp of a major trend reversal (not a financial advice)
<!-- SC_OFF --><div class="md"><p>I have been looking at the silver chart and it is telling me we are maybe days away ftom a major trend reversal. Looking at the 1d chart, the price went down on three occasions when it touched the 200 day moving average. And on the 4h chart, the 50 day moving average is the current support - the price bounced back three times from it already.</p> <p>When we take the peaks in the price and draw a line, and then we draw another line at the major support ($21.50), there's a beautiful descending triangle. We are at the end of it, the price wiggles up and down, and is about to make a strong upward move (in my opinion).</p> <p>Silver has rock-solid fundamentals and is going to be a major winner this decade. We have not seen anything yet, when it comes to solar panels and electric vehicles. And demand exceeds supply as of now.</p> <p>Last year the COMEX registered inventory went down 45% from 145 mil. oz to 81 mil. oz. The ore grades have been falling since 2006. Only about 20% of the silver used in electronics is recycled.</p> <p>Full disclosure, I am long silver and silver miners.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/StonkBrothers2021"> /u/StonkBrothers2021 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/sd7y8d/silver_appears_to_be_on_the_cusp_of_a_major_trend/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/sd7y8d/silver_appears_to_be_on_the_cusp_of_a_major_trend/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I have been looking at the silver chart and it is telling me we are maybe days away ftom a major trend reversal. Looking at the 1d chart, the price went down on three occasions when it touched the 200 day moving average. And on the 4h chart, the 50 day moving average is the current support - the price bounced back three times from it already.</p> <p>When we take the peaks in the price and draw a line, and then we draw another line at the major support ($21.50), there's a beautiful descending triangle. We are at the end of it, the price wiggles up and down, and is about to make a strong upward move (in my opinion).</p> <p>Silver has rock-solid fundamentals and is going to be a major winner this decade. We have not seen anything yet, when it comes to solar panels and electric vehicles. And demand exceeds supply as of now.</p> <p>Last year the COMEX registered inventory went down 45% from 145 mil. oz to 81 mil. oz. The ore grades have been falling since 2006. Only about 20% of the silver used in electronics is recycled.</p> <p>Full disclosure, I am long silver and silver miners.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/StonkBrothers2021"> /u/StonkBrothers2021 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/sd7y8d/silver_appears_to_be_on_the_cusp_of_a_major_trend/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/sd7y8d/silver_appears_to_be_on_the_cusp_of_a_major_trend/">[comments]</a></span>Kind Regards R