Silver – Reflections of a Major Price Breakout
Posted: Thu Nov 04, 2010 2:39 pmSILVER appears to be making another major leg higher. Currently, it is NOT overbought, like it was during September and early October. That dramatic rise of SILVER began in late August from $18 to a high point of $25.05. That high point has now been exceeded and then some today. SILVER is now going higher. 
How high will it go by the end of 2010?
That $7 rise (38%) from August to October gives us an idea of how large this second leg up could be. Given, that this SILVER rise is from a low level of $23, a further 40% rise from there, gives you a SILVER price of $32 spot in about 8 weeks or so, around the end of 2010.
If this rise is like the last leg up, there most likely will be NO pullbacks; just another straight up rise until it gets overbought again.
Now, if this leg up GOES EXPONENTIAL, we could see a rise something like that of the fall of 1979 into 1980. SILVER rose from $25 to $50 in a few weeks. It something like that were to occur, we could see ALL TIME HIGHS IN SILVER ABOVE $50 quickly.... Definitely, we are seeing history in the making as the FED purposely depreciates our currency. Let us hope and pray that they will not cascade us all into unchecked worldwide hyper-inflation as nations seek advantage by the currency depreciation.
How high will it go by the end of 2010?
That $7 rise (38%) from August to October gives us an idea of how large this second leg up could be. Given, that this SILVER rise is from a low level of $23, a further 40% rise from there, gives you a SILVER price of $32 spot in about 8 weeks or so, around the end of 2010.
If this rise is like the last leg up, there most likely will be NO pullbacks; just another straight up rise until it gets overbought again.
Now, if this leg up GOES EXPONENTIAL, we could see a rise something like that of the fall of 1979 into 1980. SILVER rose from $25 to $50 in a few weeks. It something like that were to occur, we could see ALL TIME HIGHS IN SILVER ABOVE $50 quickly.... Definitely, we are seeing history in the making as the FED purposely depreciates our currency. Let us hope and pray that they will not cascade us all into unchecked worldwide hyper-inflation as nations seek advantage by the currency depreciation.
with egg on his face 