On September 21, 2009, when Robert Kiyosaki of “Rich Dad Poor Dad” fame along with Mike Moloney “Gold Guru” predicted that gold should reach $15000/Oz and Silver $1000/Oz. they were wrong or at least way too early.
Fortunately, we were out in 2011, and unless you have been attempting to short those metals, gains have been tough to achieve on the bullish side. No, we are not claiming to be perfect, just accurate enough to help our subscribers.
So, what about today, is it going to continue down or are we close to a super cycle bottom?
Let’s look at a top-down approach to Silver.
As you can see in the chart (above right and below), the long-term trend is bearish and has been for a very long time! Breaking this trend will require a substantial change in the economic cycle which we do see on the horizon.
As you can see in the weekly chart below taking any position on a bullish trend move would be modestly risky in the short term and intermediate term.
Because the Monthly and Weekly charts are setting the primary Bearish trends, if the daily chart turns bullish, it should be viewed as a potentially better shorting position, not long-term bullish position.
Members will receive notification of when we achieve the very bottom and start our way up again for the long run.
InterAnalyst has been serving investors globally since 1990. Authoring hundreds financial articles and publications, thousands of trading charts to investors worldwide.