Many will say that the bear market is over in coming months because of the long lasting strength of the bounce ahead.
However, to the contrary, the bear market for Silver still has 2-3 years left as shown in the Cycle.
3day Chart
Before:
July 12, 2014:
"The Silver bear market is likely to resume with the next leg lower due in the Cycle. A steep plunge is shown in the Cycle down to the green arrow.
Targets are $13 for Silver and Gold under $1,000 at the next green arrow low. Ultimately, the bear market Cycle target remains at $6.50 and another 3-4 years lower."
2day Chart
Silver Bear Market Cycle:
The Silver low is due.
ReplyDeleteThe blue arrow low should form as a double bottom which provides a very nice entry spot.
It'll take some time for Silver to grind along and form this low judging by the Cycle.
ReplyDeleteThanks for the update, SC. Based on the chart, it looks like after the 1st blue arrow reached, it could rally for weeks before retest the low again, correct?
ReplyDeleteYes, that is correct. It'll take weeks for that bounce probably more than a month.
DeleteIt still might be a little early for the low. We'll watch as it forms in coming weeks.
ReplyDeleteAre you expecting $13 area for the blue arrow low since the green arrow low reached at around $15?
DeleteYes, that's right.
DeleteWhat's your target for the bounce on Silver? Thx
ReplyDelete$16 to $17.
DeleteIt'll take some time to form this low, first half of October may be optimal.
ReplyDeleteAny chance the Fed's rate decision could start the rally?
ReplyDelete