Silver Price may be on the RISE

I have been following Silver and Gold now for around 20 years or more and have been accumulating Physical Metal slowly (mainly Silver) since the 2008 Financial crisis. I believe that this is an important strategy to maintain financial independence and achieve wealth preservation for the Financial turmoil that awaits us all in the years ahead as economies of the World deteriorate.

You know me best for my posts on plants/gardening, but as well as being a Qualified Horticulturist, i also hold a Certificate in Financial Markets, and have been involved in this market for around 20 years since my career in the Horticultural Industry ended. I have developed an interest in Technical Analysis ( charting ) and this helped me with my stockmarket trading over many years. However, with the stockmarket being more and more untradeable due to market manipulation, i have focused more on Precious Metals... Gold and Silver. I thought i might include some posts in this blog in the hope that more people develop an interest in Silver and begin to accumulate some of this increasingly important Metal which is probably the most manipulated commodity in world history because of it's importance to the Financial System and also in modern technology. Silver is the second most important commodity on the planet, after Oil. Without Silver, all our electronic gadgets would simply be useless.

So here goes. Since June 2018 , as the paper Silver price has continued it's relentless price decline , a clear price channel has formed. This can be seen in the chart below, marked by the parallel lines i have inserted.

Chart source ; netdania.com

Notice how the candlesticks have consistently touched the line at roughly equidistant points along the top line and then retreated again.... this gives the chart legitimacy. Around the 20th September, the top (resistance) channel line was broken to the upside and Silver began to rise. Now in the last day or so, it has begun a retreat back towards the top line again. This is quite normal, as any breakout is usually followed by a return back to the top of the restistance line which it broke through. However. the price usually does not continue to go down once it hits the resistance line again, rather it touches it quickly, usually with a quick spike that only lasts one day, then resumes it's upward price movement again at a fast pace.

Silver could and will most likely retreat back to the resistance line around $13.75. However it does not have to do this, it could decide to continue its upward rise, because demand from traders who were short would be covering to limit their losses. Then again before this breakout to the upside, i was expecting Silver to continue falling down to around $10 until the end of the year. It may still do that, but now this breakout has happened, it is less likely. We will have to also keep an eye on the weekly and monthly charts. Nothing is guaranteed, the Banksters can set the paper price anywhere they want to, regardless of demand. There are no free markets. In my opinion, this is a great opportunity to accumulate more physical Silver at a very cheap price. Silver has never been cheaper when adjusted for Inflation.

I'll follow up this post with another one in a week or two and see how this situation plays out.

Note; This commentary does not constitute Financial advice, it is the opinion of the Author.