July Silver broke out on the weekly chart with enough force to imply it will reach a minimum of $37 an ounce. That would represent a 16% move on top of the already impressive 28% gain...
With prices closing around $31.50, the strong resistance zone is already broken. The next target now sits around $35. Above that, the all-time high at $50 would be coming into play.
Over the last 125 years, silver has formed two similar patterns. This year could be a breakout year, with a potential top around 2028 if the pattern holds true.
The breakthrough over $30 was far more than expected and the next targets are $39/$40. The mark had stood at $30.35 since February 2021. Silver closed the past week at $31.26.
Silver outperformed gold and the stock market at least a decade after the major interest rate bottom. There is also a very good chance that this will be the case again.
