Since July 3, 2024, when silver cleared short-term resistance, the silver chart confirmed its secular cup and handle reversal, naturally a strong bullish pattern. It qualifies as one of the most bullish setups ever.
RELATED – Will Silver Ever Reach $50 at a Time? Here you will find the answer and the must-see graphs.
One thing is clear: this chart pattern is extremely powerful.
What is not clear, however, is when silver will reach new all-time highs.
While a test of the current ATH will likely occur in late 2024 or the first half of 2025, it remains unclear if/when/how silver will break out into new ATH.
We had a theory about this and explained it here: Can the price of silver rise to $100?
Silver card pattern
While the intellectual part of solving the question ‘when will silver reach $50‘and’Will silver ever reach $100?‘ is a challenge (and therefore fun to do), the bigger picture is the current setup of the silver card.
To see and appreciate the power of silver, you have to zoom out.
To remind – short term map views cause 100% noise 100% of the time. Yet the web is full of them, just scroll down and discover that most ‘silver trading ideasare focused on the short term.
As you can see in the map below, a giant cup and handle formation unfolds on the silver map. The current outcome is consistent without the 2024 silver forecast being written nine months ago!
Silver’s next big step
Investors are interested in silver’s next big move.
While it is a valid question, it is the right question to ask which time frame is relevant.
Looking at silver’s long-term strategy, a move to $50 is inevitable. But does it really matter whether it happens in the summer of 2024, around the end of the year or around the summer of 2025?
What really matters is the long-term pattern and trend.
We wrote a very insightful timeline analysis on silver, which is available on Linkedin. Exceptionally, in our gold and silver research reports, we have revealed some insights that are usually reserved for premium members.
READ – The most insightful Silver Chart analysis you will ever read
That said, we have derived specific data that is likely to be decisive for silver’s price, presumably in a positive sense given the current long-term chart setup.
As we approach the decisive dates of November 8, 2024 and January 21, 2025, we will continue to monitor the market closely. This scenario is not a prediction, but a way to illustrate our methodology.
Please note that the dates we derived will be in a US Fed rate cutting period. This fits in nicely with the historically important dynamics in the silver market, as explained below:
#Silver returned an average of +332% over the last three Fed rate cutting cycles pic.twitter.com/WJtzZuxLuR
—Peter Krauth July 10, 2024
Silver: price, time, both, none?
While the investing community remains focused on silver price analysis, we believe timeline analysis is just as important. One of the ways to do timeline analysis is to think in terms of cycles; the other method is to calculate decisive dates.
We believe that the current cycle may have some more upside potential. We shared a detailed analysis this week in our Gold and Silver Market Report. Anyone who signs up has immediate access to:
RECOMMENDED (sign up first) – [Special Edition] Detailed silver analysis: short-term breakout possible or not?
But the investor’s time frame is really all that matters. Looking at the long-term silver pattern, the chart seems to suggest that timing is less crucial as the upside target of $48-50 is clear.
Long-term investors should enjoy the ride for silver, even though volatility is certain to increase, around $32.70/oz, and especially if silver manages to move slightly higher (closer to $40/oz). This area will be filled with volatile price action.
The question is (a) can you tolerate the volatility (b) are you planning for the short or long term?
Sign up to access a very detailed and comprehensive silver analysis, available in our research area: a chart book with 25 different and relevant charts that influence the price of silver.