Updated February 27, 2021: Silver is Gold on steroids!

SILVER
Silver - with PF Targets	Bullish objective	$58 - $65 - $85 - $145
	Resistance	$32 - $48
	Major Support	$ 24.00 - $ 22.00
	Bearish Objective	$ 14.00
	Technical pattern	Long Term Breakout

The Silver market is tiny. About 700 million oz. of silver is mined each year worldwide. About 200 million oz. recycled. About 100 million oz. from "other" sources, like governments. That's the supply side. At $20/oz., this is a $20 billion annual market.

Silver-Gold ratio long term Click here for HISTORIC SILVER

JPMorgan holds over $19bn of derivatives but there is only $1bn of silver stock available!? The purchasing power of 1 kg Silver is held by a Gold coin of 1 ounce. Silver is often in backwardation Historically Silver corrections average 40%. There is a disconnect between the Futures market (paper market) and the physical market for Silver. Those who buy Silver ETFs and Silver contracts can as well keep the paper money they have...almost the same: if you buy Silver, you MUST request physical delivery. All those playing the paper products are sure of one thing. Even if the market fluctuations don't take it away they will eventually lose it all. Silver is in a process of digesting the 1981 $30 - $48 top pattern. After the breakout, this zone will become a LONG TERM support zone.

SLV ETF strip story: BREAKOUT  [SLV is an ETF & should not be bought as an investment !] -

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Feb 5: bull run	Feb 1: Target $32	Feb 5: Target $28	Breakout & strong buy	Aug 28, 2017: PF Targets

Breakout of Halfway bottom consolidation - the medium-term target is $48 - Long term target is $ 145!

This action explains the HUGE FLAG formation: "The Chinese are divesting out of paper right now.  So we are seeing a huge uptick in euro physical silver purchases, as well as dollar silver purchases.  When silver took out $33, a huge amount of physical orders were filled. The Chinese are doing the exact same thing in the silver market that they are doing in the gold market, massive accumulation on dips.  It is also important to note that the local traders in silver are short and nervous.  Everyone is short silver and so that the market can move violently higher when it turns. When silver reverses, it will be the one that leads the market higher."

Short candle	Chart comment
	Jan 5, 2016: more bullish technicals - see the short candle. Jan 4, 2017: fresh upleg + backtest completed Aug 9: indicators are BULLISH...if you don't buy Silver NOW, you're crazy! Jan 13, 2018: Screaming Buy Jan 3, 2019: will the overhead resistance be broken? Sep 3: bull run - this is just the beginning and the bull run has huge legs! Jan 6 - Feb 4, 2020: fresh upleg March 24: Bear Trap + Strong Buy May 6 - June 15: STRONG BUY & bull run - Target is $32.50 July 21: Long Term Breakout Sep 23: screaming buy Dec 2 - Jan 2, 2021: breaking out the Bullish Flag = SCREAMING BUY Jan 8: today, JPMorgan shorted again more than an entire year of mining production. Feb 1 - 5: the PERFECT Short Squeeze commodity...AND BREAKOUT Feb 12 - 25: note the backwardation on the monthly chart below and what happens next.
Long term candle

click to enlarge...the first chart was published in 2017!

Silver expressed in Euro

€-Silver
	Bullish objective	€ 46,5 - € 62
	Resistance	€ 28
	Support	€ 18
	Bearish objective	€ 14
	Technical pattern	new bull run.
	SCREAMING BUY

Short term candle	Chart comment
	Jan 4, 2016: Silver should be the BIGGEST winner of 2016! Dec 6 - Dec 20: technically speaking, a PERFECT BUY TIMING! Jan 4-Feb 17, 2017: BULL RUN + backtest completed August 9 - 28: if you don't buy Silver NOW, you're crazy! Jan 13 - Apr 13, 2018: Screaming Buy: mind the 2nd upleg Aug 15 - Nov 5: W-Bottom + Bullish divergence Jan 3, 2019: will the overhead resistance be broken? April 1 - 10: screaming buy Dec 27 - Feb 4, 2020: fresh upleg March 13: Screaming BUY at this level...Strong SUPPORT Dec 2: end of the BACKTEST and a Screaming BUY. Jan 2, 2021: Target is € 28, € 32 Jan 8: today, JPMorgan dumped more than an entire year of mining production. Feb 1-25: the PERFECT Short Squeeze commodity.
Long term candle

Silver expressed in Swiss Franc -

	Bullish Objective	FS 28 - FS 32 - FS 42
	Resistance	FS 28 - FS 42
	Support	FS 20
	Bearish Objective	FS 14
	Technical pattern	Beginning of a new bull trend
	SCREAMING BUY

Short term candle	Chart comment
	Jan 4, 2016: Silver should be the BIGGEST winner. August 13: Consolidation zone...the bigger the zone, the more power is accumulated... Jan 4-Feb 17, 2017: fresh upleg + backtest completed August 9 - 28: if you don't buy Silver NOW, you're crazy! Jan 13 - Apr 13, 2018: Screaming Buy Aug 15 - Nov 5: W-BOTTOM + Sell Climax Jan 3, 2019: will the overhead resistance be broken? April 10: Screaming buy Dec 28 - Feb 4, 2020: the beginning of a new upleg. March 13: Screaming BUY at this level...Strong SUPPORT March 24: Bear Trap + Strong Buy Dec 2: end of Backtest and SCREAMING BUY Jan 2021: Target is FS 28 - FS 32 Jan 8: today, JPMorgan dumped more than an entire year of mining production. Feb 1-25: the PERFECT Short Squeeze commodity.
Long Term candle

Only retarded investors don't get this! Investing is NO CASINO and therefore this information is still actual...even in 2019.

€ Silver month	CHF Silver month
The price goes up when time is up: Time is UP (Nov 2017 - Feb 2019)

A perfect technical picture we had. See the 2004 breakout out of a huge bullish triangle. The 20 years (1985/2004) resistance line has become huge support. The first bull run is interrupted in 2008 when Lehman Bros collapse and we have a huge deleveraging. [Whether Lehman is to be blamed or not is another chapter]

During the Deleveraging action the BREAKOUT level is positively tested (indicating we now have a confirmed BULL TREND). After the test, Silver geysers up again to the top of its long-term trend channel. Either Silver goes parabolic or it needs to consolidate sideward (I think the latter will happen).

For this reason, I expect Gold to perform better this year than Silver. Silver is the poor man's gold. As long as people are insecure, as long as we sit with this Fiat paper money, Silver will be strong. We have a paradigm shift: what we live in today, is not the ordinary recession like we lived during previous cycles. By now this should have become clear to most. The Crisis asks for extraordinary measures but also for extraordinary protection.

Silver is one way to ensure your savings. It is a REAL ASSET, REAL MONEY. (the alternative is to buy Government bonds that yield nothing, keep your money into Bank accounts that yield nothing, or stack it under your mattress where it will be inflated away). At this time Silver sits in a congestion zone....the bigger the zone the larger the subsequent run.

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Updated March 15, 2010

$-Silver objective for Wave II is $ 42,50 - €-Silver objective for Wave II is € 35: Silver has finished the 1st Wave cycle 1,2,3,4,5 and the subsequent ABC correction. Logically, it will in the wake of Gold reverse and start its Wave II cycle. The objective is $ 42,50 or 5 times the low.

• April story: Silver and Gold usually put in a bottom in March and a top in April. March 18th we had a bottom for Gold. If one misses the March bottom, one usually has to wait for the Summer to see a fresh buying opportunity.
• Silver moving averages have now also confirmed their Golden cross.
• Gold and Silver mines are strong indicating higher prices for Gold and Silver are to come. As a matter of fact, several Gold and Silver stocks have broken above their 200-day moving average.

Updated December 20, 2008

And while the “paper” Silver price was recently nominally taken down from just above $20/oz. to around $13/oz., it is increasingly hard to find physical Silver at any price. And if one can find it, one has to pay as much as $4 or so over the spot, i.e. around $17/oz. on average. Such is the ludicrous result of living in an Interventional Universe.

Manipulation?... The least one can say, is that this is a weird happening.

Last week, widely regarded silver analyst Ted Butler, reported on recent developments during the July 1 – August 5, 2008 time period in the precious metals complex [specifically, open-interest data in COMEX futures].

Butler’s work shows, as of July 1, 2008, two U.S. banks were short 6,199 contracts of COMEX silver (30,995,000 ounces). As of August 5, 2008, two U.S. banks were short 33,805 contracts of COMEX silver (169,025,000 ounces), an increase of more than five-fold. This is the largest such position by U.S. banks I can find in the data, ever. Between July 14 and August 15th, the price of COMEX silver declined from a peak high of $19.55 (basis September) to a low of $12.22 for a decline of 38%.

For gold, 3 U.S. banks held a short position of 7,787 contracts (778,700 ounces) in July, and 3 U.S. banks held a short position of 86,398 contracts (8,639,800 ounces) in August, an eleven-fold increase and coinciding with a gold price decline of more than $150 per ounce. As was the case with silver, this is the largest short position ever by US banks in the data listed on the CFTC’s site. Click here for more.

Updated November 20, 2008 - Time to buy silver!

€ Silver bar monthly & daily charts-: Will the Central banks really succeed in convincing the Herd that it is better to keep Paper Fiat Money and Government bonds instead of Real Money? Do the markets erroneously think we are going for a cycle of DEFLATION? Or is this just a bear trap and an abnormal shakeout of the Bulls? Again, with the actual fundamentals, I cannot imagine we have entered a Bear Market cycle. The daily bar chart shows a nice reversal. Time to buy!

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