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18.01.17, 22:59 Uhr (GMT)

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Silver’s 2016 Price Rally Stalled Exactly At Its 2008 Highs

Let’s get things straight when it comes to silver (and gold): its outlook is NOT looking good. The fact that the 2016 silver price rally stalled exactly at the 2008 highs which happens to coincide with a secular bear market trend line is really not good.

We strongly believe in the value of gold and silver, but we also learned – the hard way – to look with an unbiased view to unfolding trends through chart patterns. When looking objectively to the silver price chart, we read a strong message: silver’s bull market is not there yet. In other words, 2016 will not be the year in which the bear market evolves into a bull market, at least not from a secular perspective. Somehow, we still expect silver’s new bull market to start in 2017, but that will probably not happen in the first months of 2017, at least not based on the unfolding trend on the chart.

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