It Has Been Decided: Silver Is Going Much Higher
5 November 2020
The currency markets have just announced what is coming for silver. This was explained in my previous article.
The USD/ZAR ratio has now broken down. This sets silver up to finish the year with a very strong rally:
Although silver has been strong since the peak of the USD/ZAR ratio in April, this breakdown means that we are likely to see an acceleration in price increases.
This breakdown also means that silver’s key breakout is soon to follow:
A breakout would set silver up for the all-time high of $50, based on the flag-type pattern.
On this pitchfork previously featured, the price is at an important battle for rights to move in the higher channel:
The path to $50 (possibly at the red line) has very little resistance. Dollar weakness is one of the main drivers for this setup.
Gold, silver and cryptocurrencies will feast on US Dollar weakness like hungry lions on weak prey.
What makes the current situation so significant is its position on the larger economic scale:
Silver is not just going to $50, but much higher.
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