One of my charts I have saved. I was not going to post it as it gives me only 6 days to be proven wrong!
The below chart is the silver chart with moon cycles added with an EW count. I created this chart a few months ago after seeing someone post a moon cycle chart for silver on "X" and observed the accuracy of the moon cycles to predict a price correction in silver. The weekly chart lines up best as the daily chart shows variations of 1 or 2 days.Noting that the new moon cycles have an 80% accuracy for the silver chart in 2024, I am expecting a minimum price of $37.40 by Saturday next week (big call). This is using the assumption that this wave 3 of (iii) has not reached its minimum projected target and the fact that the moon cycles appear to be following the same cycles as the November 2020 election moon cycles.
In 2020, PMs topped on the Friday before the US election and corrected throughout November bottoming in early December before rallying for a number of months. Four years ago, during the last election, the moon cycles were the exact same dates as 2024 except the moon phase were full moons instead of new moons. The USD entered a down trend lasting 11 months and bottomed in late September 2021. A replay of this would fit with the EW count for PMs and my projected target zone for the USD of 92-94c level.
Just be aware that once wave (iii) tops, we get a wave (iv) correction (abc) which should last longer than the wave 4 of (iii) correction projected for November (green box) as it will be at one higher degree and will be correcting the prior wave (iii) rally which started from the wave (ii) low at $22.20. So if this wave was to top at say $45 after Xmas and silver corrects 50%, then that would target $33.50 area. If you follow the cycles, I suspect that they would call the November low an intermediate cycle low and the Q1/Q2 low in 2025 a yearly closing low. On that basis, you probably will not see silver at sub $30 for a number of years, and possibly never again.
In response to your other question with regards to ranking the stocks on how undervalued they are, you just need to read the blue section of the spreadsheet I posted.
If you rank by silver Eq oz then the ranking for most undervalued is MMA, BML, ARD
If you rank by silver oz using the same method as above, the order would be MMA, SS1, ARD, BML
MMA's chronic underperformance could be because it will be an underground operation or if not that, then what I suspect is that management have not been able to get the story out to the public. If you look at all silver presentation by all of MMAs silver peers, MMA does not rate a mention. That was until BML put out a presentation just over a week ago. Even MMA do not provide comparisons to peers in their presentations and interviews. I have posted the graph from last weeks BML presentation. ARD should have been 4th on the graph, so an error by BML. ARI's Admiral Bay deposit is 2nd but I have not been following their story. I should! From recollection, it needs $50 Ag price before development even becomes feasible. I will have to add them to my spreadsheet because we should see $50 in 2025.
