1ronnie postedSILVER PRICES SMASH THROUGH $30/oz First time in...

1ronnie posted

SILVER PRICES SMASH THROUGH $30/oz First time in 11+ Years!
https://x.com/goldseek/status/1791451583638597811

https://x.com/NorthstarCharts/status/1790774204968690124

The Biggest Breakouts of All Time and Where Silver Could Fit.

Looking at the Biggest Bases more so than Performance. (I could do a future thread based more on performance).

Starting with #5 Copper in 2005 broke-out from a 31-year base. I would have expected it to run more but the GFC had an impact.
https://x.com/TheDailyGold/status/1791190531558736199

Oil in 2004 is above Copper because it had a bigger move post-breakout. It broke $40 and then nearly hit $150 before crash. Gold's current cup & handle breakout may end up #4 on this list due to stronger & sustained performance.
https://x.com/TheDailyGold/status/1791190533764948172

The Barron's Gold Mining Index broke-out from a 28-year base in late 1964. This is #3. It is the greatest equity index breakout of all time. Given its performance on a 5-year, 10-year and 15-year basis, one can make it a case it was the greatest breakout of all time.

https://x.com/TheDailyGold/status/1791190535937687959


I am presuming Silver breaks $50 and that becomes #2.

Currently, a base in its 45th year.

Measured Upside Target is $96-$97.

But when you look at how much Copper & Oil moved, the numbers for Silver are scary.

https://x.com/TheDailyGold/status/1791190538886185346

Depending which index you use or how you measure, the breakout in commodity prices after 1971 was potentially a 100-year breakout. Commodity Prices increased by almost 250% in 10 years. Individual commodities like Gold & Silver made much greater moves but 250% across the board is insane.
https://x.com/TheDailyGold/status/1791190542740750751


IMO:
..when Silver breaks $30, the parabolic rise to $50 could be quite quick, and could then set in motion what Jordan sees above.