Almost Time to Backup the Truck and Load up on Silver

from Elliott Wave Technology:

Despite my known disdain for time and price predictions, I base the plausible forecast for an October 2014 generational low in the dollar-denominated value of Silver upon the cyclical duration of a prior elongated bear market that occurred from May 1968 thru November 1971.

Back then, the price of Silver declined by more than 50% over the course of 3.46 years. We have already surpassed (-62.57%) the magnitude of the previous decline amid the current bear market, and we are rapidly approaching symmetry with the previous time duration – hence, the probability of a similar cyclical low soon forthcoming.

How low can the dollar-value of Silver go before the next generational bottom is in?

From my perspective, there are three such price targets following a retest and plausible breach of the standing bear-market low at $18.18. The nearest is $16.76, and so long as the price of Silver remains beneath $25.12, the second is $15.15, and the last downside price target we have on record is $13.00.

Our Long-Term Trend Monitor subscribers have been hedging their physical rather successfully for nearly two-years now. (See below stats)

Bottom line – Predictions and forecasting aside, all that matters to our subscribers and us – is being right more often than being wrong, and establishing prudent hedges along with winning and profitable trades in every timeframe. This is what we’ve been all about accomplishing for our members since 2005.

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