I posted the below chart on the BML forum about 3 weeks ago. What it shows is that historically, silver has only traded above US$30 twice in its history. On both occasions it resulted in blow off tops between 3 to 5 months later. This time I think it will be different in regard to the price collapse that has occurred on the past two occasions. I think that $30 will be the new floor and not sub $5 and $15 which has occurred in the past.
So, going on historical evidence, should silver break above $30 you would expect a move to $50 within 5 months. Silver breaking above $30 may ignite the precious metals stocks bull market.
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I posted the below chart on the BML forum about 3 weeks ago....
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Last
28.5¢ |
Change
-0.005(1.72%) |
Mkt cap ! $52.21M |
Open | High | Low | Value | Volume |
29.0¢ | 29.0¢ | 27.0¢ | $21.80K | 78.73K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 39618 | 27.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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29.0¢ | 9794 | 2 |
View Market Depth
No. | Vol. | Price($) |
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1 | 32200 | 0.270 |
2 | 23800 | 0.260 |
4 | 111406 | 0.255 |
7 | 149670 | 0.250 |
7 | 75523 | 0.245 |
Price($) | Vol. | No. |
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0.290 | 9794 | 2 |
0.295 | 33500 | 2 |
0.300 | 37500 | 1 |
0.320 | 20114 | 2 |
0.325 | 84068 | 3 |
Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
27.0¢ |
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Change
-0.005 ( 5.50 %) |
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Open | High | Low | Volume | ||
28.0¢ | 29.0¢ | 27.0¢ | 16646 | ||
Last updated 11.52am 07/06/2024 ? |
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