Silver Breakout Update – What’s Next? – May 1, 2024
hello and welcome back this is Christopher Aaron this is the iold advisor Channel it is May 1st 2024 and we are going to have a silver price breakout update we are seeing the pullback that I was expecting over the last several weeks if you’re not sure what I’m talking about make sure you go and watch the last few videos I described what I was expecting then and now we will update how silver is looking on this breakout retest make sure to hit the Subscribe button and the bell icon to be notified when these videos come out on YouTube otherwise you won’t know and you will miss something if you would like to give it a thumbs up I very much appreciate that it helps out here with the algorithms on YouTube last but not least we publish for free sometimes on on Twitter or X at the feedig global gold and you can sometimes get quicker updates there for free during the middle of the week all right let’s look at what is happening here in silver our legal disclaimer what I want to do is remind you of this pattern that we saw from 2013 through 2016 in the very same Market in silver this is a very common pattern what you’ll notice is that when silver has these primary multi-year downward Trends notice the trend that silver was in here from the Peak at $25 down to the low at 1350 notice lower and lower and lower and lower Peaks that when we finally get a breakout right there you can see it in February of 2016 when you finally get a breakout of the trend often times silver will not just immediately go higher but what it will do after the initial surge is it will trick people and it will come back and retest several weeks later it will retest the broken trend from the opposite side you can see that here two three weeks after the breakout silver came back to this point around 1475 retested before before then boom it was higher from there over the course of the next 6 months quite a dramatic wave that set up and this was the major low that silver set late 2015 into early 2016 so it’s critical to remember these retests can occur after these primary downtrend breaks and also notice that the retest can sometimes occur just slightly below the actual breakout point so no notice a few weeks later this retest for one week came just below the breakout line there it’s really important to remember that the retests are not always literal to the specific scent uh as the process goes but sometimes it can come a few cents below the breakout point so we have to remember this now when we look at Silver 2020 to the present it is extremely important to remember the last example here is the breakout from that same type of multi-year downward Trend the only difference is that this time we had clear multi-year resistance at the $30 level if you go back into these YouTube archive videos and watch the videos from about a month a month and a half ago you will see that I was saying I do not think silver is going to break through 30 on the first try here there’s too many people who bought back in here in 20 that are going to look to exit their positions now that they’re at break even so if you listen to that video congratulations because you can now buy silver for about 10% less than you could just a few weeks ago silver is now trading back in the low $26 range as this is being recorded or you can buy 10% more for the same amount of fiat currency so you can see it really is worthwhile to pay attention to these charts to buy buy silver for the best possible price and to time your purchases in the silver mining sector so remember the analogy from the previous example that we looked at from 2016 after the breakout silver typically doesn’t move straight higher in a straight line but it first comes back to what retest it will retest a trend that has been broken before then it continues to power higher so this is what I expect for silver here over the course of the next 3 to six months I do not think it is bottomed yet there will be a Federal Reserve meeting later today it’s going to be very volatile after the FED meeting but I still think silver has a few more dollars to fall here over the next one to three months following that the next move higher should break $30 per ounce and from there we will talk about where silver is going to go now what I want to do is show you I want to zoom in on this little window here so remember we’re just talking about the move here from 2250 up to $30 per ounce and we’re talking roughly a 25% move what I want to do is zoom in for you here there’s the move in silver we’re just talking over these seven weeks this move right here 24% higher for silver one of the silver mining companies that we own here Rose by 150% in the same period of time as silver rose this 24% so if you think about that that happened just from here to here what’s going to happen to these silver miners when silver breaks above $30 per ounce you better get ready a lot of these things are going to move multi 100 percentage points higher when we get silver closing above 30 again I don’t think it’s yet we are going to be buying the last of our silver miners we have at least two new positions that we are going to be adding we are going to be doing it over the next several weeks as silver gets back to this retest point and remember I do not publish that information here that goes out to our premium subscribers via Flash update at the exact moment that we buy so if you want to get in on the next types of gains that we’re going to see similar to this make sure to sign up on our homepage okay so I want to make sure you understand the opportunity that is setting up here on the retest and back to the silver market there should be a couple more dollars to come to the downside and then we get the real move higher that we have all been waiting for should be very exciting for the rest of this year if you would like to learn about the exact silver miners that we are going to be investing in here when we do it so you don’t miss out on those gains the service for you is called precious metals intelligence plus you receive the exact signals that we are using here as to when we buy and sell these silver mining companies those go right to your inbox by email for flash updates we also cover the physical gold market physical silver market the rest of the mining sector Bitcoin the stock market and the currency markets so that you can be a better formed investor that is called precious metals intelligence plus you can find out about it on our homepage and register if you are a higher net worth investor you have to understand the power of private placement we have just closed a private placement that is already up 16% in just a few weeks that is very nice but I think these things are going a lot higher over the next few years as gold and silver themselves go higher remember if you invest with us by private placement you get free warrants in addition to the shares and that gets you nearly twice the amount of upside that you would get compared to buying these same shares in the open market you will also receive a free subscription to our Flagship precious metals intelligence plus service if you join us in Elite if you would like to speak to me Christopher Aaron one onone you can reach me on the consultations tab on our website I do not take any fees or kickbacks from any of the companies that we profile none of the companies that we invest in I am 100% dedicated to providing independent guidance and research to investors such as yourself and remember I invest in this sector myself as well so I speak from my experience you can reach me on the consultations tab on the website if you would like to book a talk so we have setting up here remember the retest for silver it’s not quite there yet but it is coming and that is going to be one of these rare backup the truck moments you do not want to miss it
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