Silver Today vs 2008, Does it Look Familiar?
Commodities / Gold and Silver 2011 Jul 20, 2011 - 11:12 AM GMTBy: Willem_Weytjens
At the end of April 2011, we warned for the end of the Parabolic rise in Silver prices.
We compared the move in silver prices with 2004, 2006 and 2008. Click HERE to read an example.
Here is an updated version, and it looks like price is tracking the 2008 pattern very well…
First of all, let’s look at silver in 2008:
Chart created with Prorealtime.com
Let’s now have a look at Silver in 2011:
Chart created with Prorealtime.com
Does this look similar? See what happens when we lay one chart on top of the other:
Chart created with Prorealtime.com
Back in 2008, silver fell as low as $8 because nearly all financial assets were sold off.
A similar move could bring silver back to as low as $13.
It looks impossible, but you never know with todays Banksters.
Willem Weytjens
www.profitimes.com
© 2011 Copyright Willem Weytjens - All Rights Reserved
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 losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
