Silver heading to $20.00?Posted 10/11/2019 8:56AM CT |
When comparing gold and silver, in my opinion, the silver chart looks more bullish. Any sustained break in the U.S. dollar should send silver shooting to $20.00 area. The headlines are very supportive. The month of October may be a crucial month for U.S.-China trade talk. If that happens, it could strengthen a Renminbi and send the dollar lower. Silver could benefit from spillover effect. The U.S. political landscape is heating up as well.
From the technical prospective, a closer look of series of small flags suggest that more upside are likely.