Courtesy of Chris Kimble.
Since May of 2011, its been a rough go for Silver!
In a little over the past 4-years, Silver has fallen 68% in value.
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As you can see, Silver hasn’t seen this large of a 4-year decline in the past 30-years! Could this lead to an opportunity?
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Silver hit the top of rising channel (A) in May of 2011. This channel resistance stopped Silver on a dime, after a near vertical rally.
The nearly 70% decline over the past 4-years has taken Silver from the top of this channel to the bottom.
Silver is now testing the bottom of rising channel support (A) and two other support lines at (1) above.
The bottom of channel (A) has been in play for the past 30-years, this is not a routine test of support!!!
What Silver does at this support line and what the Swiss Franc does on 15-years support (Franc says Gold flat to down for years to come) should tell us a ton about where Silver will be a few months from now.
Humbly this appears to be a time of opportunity in the Silver space!
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