By: Hubert Moolman
-- Posted 20 October, 2011 | | Discuss This Article - Comments: 0
20 October 2011 (originally sent to Premium subscribers on 14 October 2011)
Below, is my latest update to subscribers of my Premium service.
In a previous update on silver, I illustrated the high correlation between how gold and silver trades. Importantly, how they trade similar, at similar milestones, despite the fact that those milestones might be reached at different times.
The similar milestone that is relevant for silver’s current and immediate future is of course the 1980 high. Gold made a triangle-type pattern just before it reached the 1980 all-time high. When it came out of that triangle pattern, it rallied strongly to the 1980 high, which started the formation of a flag-type pattern. From the flag pattern, price shot upward to the $1000 level (pass the 1980 high).
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