Silver Price ForecastSilver has been building a massive base at $14.00. Prices reached $17.49 in August and are currently testing the upper breakout boundary.
A few days ago, I laid out the bullish case for gold and why I believe it will be one of the best performing assets over the next decade. I see even more potential in the silver chart (see below).
- Prices hold support above $16.20 and breakout above $18.50 later this year.
- Prices fail to hold $16.20, consolidate a bit longer and breakout next year.
Either way, the multi-year base at $14.00 represents a long-term bottom that should hold. With gold breaking above $1400, it’s likely just a matter of time before silver begins to play catch up. When prices break higher, I expect an initial run to $26.00. Longer-term, we see silver exceeding the $50 all-time high and entering a parabolic advance above $100.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit here.