Tag: Stefan Gleason
The silver market’s consolidation has formed a symmetrical triangle pattern. Prices are now nearing the apex of that triangle. The pattern cannot hold much longer – it must soon break in one direction or the other. And when it does, the move that follows should be sudden and sharp in one direction or the other. A bearish breakdown could quickly pull prices back down to the $14/oz level…while a bullish breakout would target $20.50 and potentially much higher beyond that.
The cycle appears to be in the early stages of turning bullish for commodity prices – making it a favorable time to be taking out long positions in hard assets. That doesn’t necessarily mean metals markets will immediately begin moving up in a big way…
