His projections generally do not conflict with what I am looking for, they seem very reasonable. (I have currently targets of USD$63 soon, retracement to 40’s this summer, and then 130:ish “in a few years”)
My problem with constructing 5 wave impulse structures for Silver is that silver is a commodity/currency, and these imho do not impulse (like equities).
Silver bull market Posted on May 2, 2011 by tony caldaro
For the past few years we have received constant requests to provide a report on Silver. We have provided numerous reports on Gold since we feel it is money, not currency, and it has been in a bull market since 2001. Silver, on the other hand, is currency. Not fiat currency that can be mass produced with a printing press or, nowadays, just a keystroke on a FED computer. Silver has always been a means of exchange for one tangible asset or another, until the past several decades. Whether anyone still considers Silver a currency in not important.
. . .
There you have it: first target $52 – $54 and second $63 – $67.
Looking further out into the potential 2014 bull market top we made some Fibonacci calculations for the bull market high.
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These calculations suggest a bull market high between $82 – $84 or $128 – $131.
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