Those calling for a blow-off top and subsequent devastating correction in silver may want to check today’s silver chart. Silver has now retraced nearly 100% of its sell-off losses. It has just re-passed $49, and is preparing to take out Sunday night’s multi-decade high of $49.82, and challenge the $50 level.
Gold is also currently placing brand new All-Time highs, last hitting $1537.20. Gold looks like it wants to run to $1550-$1560 here before its next set back.
We look for silver to place a new ALL-TIME (nominal) high by week close. If silver can clear $50 and hold that for tomorrow’s close, silver will target $65-$70 before Blythe can get her make-up on. We hope you followed our advice and bought the dip!