Nearly a year ago, when silver was trading near $21 per ounce, (26% higher than it is today) we identified a downside price target of $15.15 per ounce. As evidenced clearly in the below chart, we captured this target on Wednesday November 5, 2014 – with only 0.3 cents to spare.
Still outstanding, and the last downside price target we have on public record remains at $13.00 per ounce.
Despite registering lower lows from our previous update, for now, a bullish momentum divergence persists. If the bullish divergence holds, it is likely to spark a short-term rally in the very near future. We’ll see how that plays out going forward. Until then, it is what it is, a bear market – deal with it accordingly.
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Our Long-Term Trend Monitor subscribers have been hedging their physical rather successfully for nearly two-years now. (See below stats)
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Until Next Time,
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