Silver attempting 7-year breakout; Hi Yo Silver Time?

Silver attempting 7-year breakout; Hi Yo Silver Time? by  – Kimble Charting Solutions

Silver and Silver ETF (SLV) has NOT been a good asset to buy & hold since the 2011 highs, as they have declined around 66% in the past 7-years.

Could the long-term trend downtrend in Silver be about to end? Below looks at Silver Futures over the past 8-years-

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Over the past 3-years Silver has created a series of flat bottoms around the $15.80 level. As the same time, it has created a series of lower highs at the top of falling channel (1).

Currently Silver is testing a key breakout level at (2), where if it succeeds in breaking out, it would send a bullish price message for the first time in years.

If Silver would breakout above, SLV would be good to own and the ETF below could present bullish opportunities as well.

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Silver Miners ETF (SIL) remains in a downtrend, no doubt about it. Similar to Silver, SIL has created a series of flat bottoms and lower highs over the past year.

SIL is testing a breakout level this week at (1). If Silver breaks above its 7-year falling channel in the top chart, SIL could follow and breakout at (1) above.

Is it “Hi-Yo Silver Time” for this out of favor metal? If dual breakouts take place, both could attract buyers that have been absent from this sector for years!

If you would like to stay current on opportunities in the Gold, Silver, Copper and Mining sector, we would be honored if you were a Metals or Premium Member.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.