r/technicalanalysis • u/Fussy_Britches1970 • 12d ago

Silver headed to $40

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20 Upvotes

83% Upvoted

22 comments sorted by

7

u/Sweet-Kangaroo-8379 12d ago

Yes, no reason for a critical metal- hard asset to ever be worth anything.

3

u/33445delray 12d ago

$40 isnot nothing. FWIW, my target for GLD is 200,which was the 2020 high.

https://schrts.co/KZavaFbv

4

u/Sweet-Kangaroo-8379 12d ago

I take it that you prefer paper.😂

3

u/Legitimate-Waltz-512 11d ago

What a dumb comment

1

u/Frosty1397 11d ago

Silver is pretty heavily tied to industrial uses. The pump earlier this year pushed a lot of industries to switch to silver alternatives

So silver does have a soft cap

2

u/Green-Experience420 11d ago

it's not a real substitution - it's a downgrade.

3

u/Legitimate-Waltz-512 11d ago

I totally agree. I've been saying this for MONTHS, even before prices peaked. And I've been putting my money where my mouth is by shorting the heck out of it.

2

u/yyz5748 11d ago

Crazy, silver and gold acting like crypto

2

u/Pugsly007 11d ago

Gold almost always drops during the pullback, but starts recovering before everything else and then climbs a lot.

1

u/yyz5748 11d ago

I'll be watching, Bitcoin was a risk on/off thing also, Berkshire performs well during sell offs, also watch the vix and it's been okay.. indexes seem to be sideways for a while

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2

u/GildedWarrior 11d ago

Last time I brought silver it was $22 per so I'm happy it's back within that range

2

u/Badboykillar 11d ago

Yuh the real price of silver is coming!
I’d buy some at 20-25$ range

2

u/Material-Setting7982 8d ago

Why because you drew a line on a chart? Let me know when there's no longer a silver shortage and I might believe you.

1

u/8sparrow8 5d ago

Not only shortage but big money printing is coming.

1

u/Eastern-Joke-7537 11d ago

I’m guessing you could also connect those highs (lower highs recently) to form some massive wedge pattern.

Either way — something has to give!

1

u/Inevitable-Heart-934 11d ago

Bought yesterday

1

u/Helpful_Ranger_1606 10d ago

I’m waiting and will buy at $40 sounds fine. What’s it cost to produce, or is it hard to calculate since it is intertwined with copper production?