I posted the below chart on the BML forum about 3 weeks ago. What it shows is that historically, silver has only traded above US$30 twice in its history. On both occasions it resulted in blow off tops between 3 to 5 months later. This time I think it will be different in regard to the price collapse that has occurred on the past two occasions. I think that $30 will be the new floor and not sub $5 and $15 which has occurred in the past.
So, going on historical evidence, should silver break above $30 you would expect a move to $50 within 5 months. Silver breaking above $30 may ignite the precious metals stocks bull market.
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I posted the below chart on the BML forum about 3 weeks ago....
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Last
26.5¢ |
Change
-0.035(11.7%) |
Mkt cap ! $48.55M |
Open | High | Low | Value | Volume |
29.0¢ | 29.0¢ | 26.5¢ | $66.26K | 247.2K |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 27147 | 26.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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28.5¢ | 15000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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3 | 27147 | 0.265 |
4 | 74460 | 0.260 |
3 | 28800 | 0.255 |
5 | 153000 | 0.250 |
5 | 43164 | 0.245 |
Price($) | Vol. | No. |
---|---|---|
0.285 | 15000 | 1 |
0.290 | 8097 | 1 |
0.300 | 36223 | 1 |
0.310 | 3000 | 1 |
0.320 | 1600 | 1 |
Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
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Last
27.0¢ |
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Change
-0.035 ( 5.40 %) |
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Open | High | Low | Volume | ||
29.0¢ | 29.0¢ | 26.5¢ | 76308 | ||
Last updated 14.23pm 27/05/2024 ? |
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