SILVER CRACKUP BOOM! Price Trend Forecast 2023 / Commodities / Gold & Silver 2023
My last look at the prospects for SIlver of early May 2022 warned to expect the inflationary crack up boom to eventually make it's way to the precious metals complex - The CRACK UP BOOM! Implications for Stocks, Housing. and Commodities, Silver Potential
Silver is at the opportune level of $22 for long-term accumulation that first targets the top of the range at $28 and then on a breakout higher to ultimately target the previous all time high of $50.
As I often voice Silver exhibits a messy trend, infuriating at times, as was the case during the summer months when instead of climbing higher along with rampant Inflation it actually fell to below the last lost of $21, falling to support at $18 eventually bottoming at $17.4. Definitely not an easy market to trade! Nevertheless subsequent price action has seen Silver put in a series of higher highs and lows, with the price since early November not allowing those sat on the sidelines waiting for a dip to buy to get onboard as each correction has proven to be milder than the one before.
The stage finally appears set for Silver to make a run for resistance between $28 and $30 which I am sure will again resolve in a messy trend, however the price action that follows will set the scene for a breakout higher to target at least $35 during 2023.
This article is an excerpt from S&P500, Gold, Silver and Crypto's Trend Forecasts 2023 which was first made available to patrons who support my work.So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work forjust $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock it in now as $4 per month as this soon rises to $5 per month - LAST CHANCE!
To get immediate first access to ahead of the curve analysis as my extensive analysis of the stock market illustrates (Stocks Bear Market Max PAIN - Trend Forecast Analysis to Dec 2023 - Part1), that continues on in the comments section of each posted article, all for just 4 bucks per month which is nothing, if you can't afford 4 bucks for month then what you doing reading this article, 4 bucks is nothing, if someone did what I am doing then I would gladly pay 4 bucks for it! Signup for 1 month and you will see what I do cannot be beaten by those who are charging $100 per month! I am too cheap! I am keeping my analysis accessible to all, those willing to learn because where investing is concerned the sooner one gets going the better as portfolios compound over time, 4 dollars month is nothing for what you get access which will soon rise to 5 dollars per month for new patrons so at least give it a try, read the comments, see the depth of analysis and you won't be sorry because i do do my best by my patrons, go the extra mile which you will soon see.
And gain access to the following most recentanalysis -
Stock Market Completes Phase Transition, US Real Estate Stocks - Housing Market Part1Stock Market Rally Slams into Q4 Earnings Season Stock Market Gasping to Reach 4000 Ahead of Earnings Season, Dow New All Time High 2023?S&P500, Gold, Silver and Crypto's Trend Forecasts 2023Santa Battles Grinch to Deliver Stock Market Last Gasp Rally into the New YearSanta Sledge on the Launch Pad for Stock Market Post CPI To the Moon Rally Stocks Analysis Bonanza - GOOG, QCOM, ASML, TCHEY, BABA, BIDU, TSLA, WDC, RBLX, MGNI, COIN, BITCOIN CAPITULATION!Stocks Bear Market Max PAIN - Trend Forecast Analysis to Dec 2023 - Part1Stock Market Analysis and Trend Forecast Oct 2022 to Dec 2023 - Part 2So for immediate first access to to all of my analysis and trend forecasts then do consider becoming a Patron by supporting my work forjust $4 per month. https://www.patreon.com/Nadeem_Walayat that is imminently set to rise to $5 per month for new patrons.
My Main Analysis Schedule:
UK House Prices Trend Forecast- CompleteStock Market Trend Forecast to December 2023 - CompleteUS House Prices Trend Forecast - 50%Global Housing / Investing Markets - 50%US Dollar / British Pound Trend Forecasts - 0%High Risk Stocks Update - Health / Biotech Focus - 0%State of the Crypto MarketsGold and Silver Analysis - 0%How to Get Rich - 90%
Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock in now as this increases to $5 per month in the new year.
And ensure you are subscribed to my ALWAYS FREE newsletter for my next in-depth analysis.
Your trim the FOMO rally analyst.
By Nadeem Walayat
Copyright © 2005-2023 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.
Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.
Nadeem Walayat Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.