This article analyzes the potential for a silver rally, pointing to historical patterns and current market conditions. It argues that silver is poised to outperform other precious metals, especially considering the strong performance of mining stocks and a potential correction in the stock market.
Silver tends to outperform the rest of the precious metals sector close to the end of a given rally. We’re not there YET.This provides us with a great trading opportunity when we combine it with miners’ particularly strong performance and the buy signal on the stock market.Technically, stocks are right after a breakdown below a head-and-shoulders pattern, which is a sell signal.
So, unless I see something profoundly bearish and the above theory is invalidated, I plan to go long silver when theThe above didn’t materialize, but the invalidation of the head-and-shoulders pattern is even more bullish, so the implications are the same – it’s time to go long silver., silver, and mining stocks are all up in today’s session, and the remarkable thing about it is how much mining stocks rallied compared to gold.
How long could this rally last? I’d say that between 1 and 4 weeks, with 1-2 weeks being the more likely time target.And we have an interesting situation in the tech stocks as well. Then again, back in 2021, it was the end of the year, which might have prevented Wall Street from selling massively before the year end so that everyone could cash in nice performance-based bonuses. This time, the previous year is already over, so the history might not repeat itself to the letter.
Investing Market Analysis SILVER PRECIOUS METALS MINING STOCKS STOCK MARKET CORRECTION TECHNICAL ANALYSIS
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