Friday, July 1, 2011

If Only This Silver Price Could Be True.

Mr. M:

If history truly repeats itself, the whole silver community is in for a treat.
The propaganda is escalating.

Silver — on its way to $20

Posted by PeterLBrandt on June 28th, 2011
Price pattern today almost a perfect image of 1980

The chart below overlays the Silver today with the Silver price in 1980. The time framing and price scales are not identifical. It is the price pattern itself that is important.

Based on the price pattern, Silver today is following the script of 1980 with uncanny accuracy. And, based on the similarily of the patterns, Silver is headed to $20 to $25, probably by the end of the year.

Yet, a survey released Monday by Bloomberg indicated that the median expectation of 100 commodity analysts is for Silver to rally back to $49.79 by December 31.

I will trust history rather than the commodity analysts.