Silver Outlook.

Silver and Gold, I keep charting where both are likely to show their shiny and precious metal status going forward. Also an industrial metal status for Silver I must say. I have employed a PnF  1 box chart with a 5% box size in order to filter out what I would consider noise but let in enough price data to plot notable changes.

There has been almost no activity in the current year (a single plot to be precise). This tells me that Silver is in CALM WATERS and in potential accumulation phase ( late stages of an accumulation phase perhaps) and to wait for a tide to lift it before it’s next major direction . It could go either way without a doubt. All we can do is to mark levels to watch and switch to bar/candle charts and look for a potential signal which may indicate the beginning of the tide lifting the boat.

I have marked the SUPPORT and RESISTANCE of the CONGESTION ZONE that SILVER has been in and watching these levels going forward where an eruption/breakout may be signalled.

I am keeping an eye on both Gold and Silver and their fundamentally sound ASX listed producers. To my disappointment, we don’t have any dedicated ASX listed Silver producer/producers to follow. Fundamentally sound ASX listed Gold producers/miners is the way to go for me.

Chart is courtesy of StockCharts.com

silver1boxpnf14042018

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